India, Iceland agree to boost trade ties
In order to boost the trade and economic ties, India and Iceland agreed on a partnership agreement between India and EFTA countries (Iceland, Liechtenstein, Norway and Switzerland) on Tuesday.
Sushma Swaraj, the External Affairs Minister of India and Gunnar Bragi Sveinsson, Foreign Minister of Iceland discussed several bilateral and trade issues as well as key regional and multilateral issues of mutual interest, during the Foreign Minister’s visit to India from April 3rd to 9th.
To strengthen the economic relations between the countries, the two ministers agreed to further cooperation in the areas of renewable energy, tourism, start-ups and extended trade ties.
In addition, both the ministers deliberated on the climate change challenges in the regions of Arctic and Himalayas. They also stressed on the significance of continued cooperation in scientific fields to better understand the implications of climate change on the glaciers and ice covers in these ecologically fragile regions.
The ministers acknowledged that any economic activity in the two regions must be based on the sustainable development principle.
To discuss common business opportunities, the Foreign Minister of Iceland is scheduled to meet with the chief ministers of Karnataka and Maharashtra.
The two countries have regularly exchanged high level visits. Most recently, the President of Iceland visited India in 2013.
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