Switzerland: Free trade with India unlikely
Although there was progress in some areas, there is just little chance for an agreement today, said the director of the State Secretariat for Economic Affairs (SECO) Marie-Gabrielle Ineichen-Fleisch in an interview published in the "Basler Zeitung" on Thursday. Economy Minister Johann Schneider-Ammann will take up the issue during a visit to India in May, according Ineichen-Fleisch.
State Secretariat for Economic Affairs (SECO) Marie-Gabrielle Ineichen-Fleisch
Pharmaceutical industry disagrees
But she warns: "Although the new government looks favourable up on businesses and trade it will take some time." The most important questions that need to be discussed are intellectual property protection and data security.
The pharmaceutical industry has been against the agreement, because the assurances of India in patent protection did not go far enough in their view. The pharmaceutical industry is not the only sector with objections, said Ineichen-Fleisch. "Because it's not just about patents, but brand protection is a part of that too."
Good conditions for machines industry
It regrets Ineichen-Fleisch, that the "very good conditions for the machine industry," with India cannot come into force right now. "But the bottom line is that we find a satisfactory solution for all industries."
The far advanced negotiations were interrupted by the elections in India in spring 2014. Although Schneider-Ammann then hinted in an interview that he would accept an agreement, even against the will of the pharmaceutical industry. But it did not come that far.
Source: www.swisscofel.ch