Switzerland hopeful of resolving FTA issues

Switzerland today expressed hope that India and European Free Trade Association (EFTA) will resolve differences over the "sensitive issues" of data security and intellectual property rights.
Swiss Economic Affairs Minister Johann N Schneider- Ammann, who is here on an official visit, said Switzerland is committed for a broad-based free trade agreement.
EFTA - comprising Switzerland, Iceland, Liechtenstein and Norway - has been negotiating a free trade agreement with India.
"I am sure the negotiating team will continue the discussions and reach some conclusion on data protection and IPR issues which are sensitive issues," Ammann told reporters here.
Earlier in the day, all trade-related issues, including data security, were discussed during his meeting with Commerce and Industry Minister Nirmala Sitharaman.

On the timeline for conclusion of the talks, he said it was too early to put a specific time-frame on when the negotiations could reach a conclusion.

The free trade negotiations that were launched in 2008 aim at liberalising trade in goods, services and investments.
India is asking for data secure nation status as the tag is crucial for Indian IT companies seeking market access in the 28-nation bloc.
On the other hand, Swiss pharmaceutical industries have raised concerns over India's intellectual property rights regime. They have concerns primarily over compulsory licensing and few other patent provisions.
The Swiss pharmaceutical giant Novartis lost a case in April 2013 in the Supreme Court which denied a patent to the multinational for its cancer drug Glivec.

Under WTO provisions, developing countries, including India, have the right to issue compulsory licences in the interest of maintaining public health.
India is the largest supplier of low-cost generic medicines to several countries, including in Africa and South America.
The bilateral trade between India and Switzerland stood at USD 21 billion in 2013-14. India has received USD 3 billion FDI from that country.