Commerce Secretary visits Norway to discuss early implementation of trade pact with EFTA bloc

• Commerce Secretary Sunil Barthwal visited Norway to discuss the implementation of the Trade and Economic Partnership Agreement (TEPA).
• The agreement, signed in March, is part of the European Free Trade Association (EFTA), comprising Iceland, Liechtenstein, Norway, and Switzerland.
• The visit aimed to unlock a large market for Indian exports and push for early implementation of $100 billion investment.
• India’s seafood exports have doubled in value over the past decade, making it the EU’s second-largest seafood market.
• India is also the EU’s second-largest shrimp supplier, contributing 12% of the EU’s squid imports.

European Free Trade Association (EFTA)

• Intergovernmental organization of Iceland, Liechtenstein, Norway, and Switzerland.
• Established in 1960 to promote free trade and economic integration.
• Main tasks include maintaining and developing the EFTA Convention, managing the EEA Agreement, and developing EFTA’s worldwide network of free trade agreements.
• Mission: Promote free trade and economic integration for the benefit of its four member states and global trading partners.
• Member States: Open, competitive economies committed to progressive liberalization of trade in multinational arena and free trade agreements.