Indo-Swiss Free Trade Agreement likely to be signed this fiscal

KOLKATA: The Indo-Swiss Free Trade Agreement is expected to be in place within the current financial year, the Swiss Ambassador to India Linus von Castelmur said today.

"We are expecting FTA between the two countries to be signed by this year," Castelmur said at an interactive session organised by the CII.

The negotiations for signing the FTA began in 2008. Switzerland was the first country to sign a Friendship Treaty with India way back in 1948.

The bilateral trade, which is close to $ 4.8 billion now, is expected to increase to $ 7 billion by 2015.

Meanwhile, a Swiss trade delegation will visit India, including Kolkata, in September.

Castelmur said as the mission was at its preliminary stage, they will not be able to give details of the delegation's visit, "but, the theme for this delegation is innovation".