On March 19, 2025, Indian External Affairs Minister S. Jaishankar met with Dominique Hasler, the Foreign Minister of Liechtenstein, during the Raisina Dialogue in New Delhi. Their discussions focused on several key areas, including the progress of the Trade and Economic Partnership Agreement (TEPA), collaboration within the United Nations, and the ongoing situation in Ukraine.

TEPA Discussions

During the recent meeting, specific progress in the Trade and Economic Partnership Agreement (TEPA) was highlighted. The TEPA, which was signed on March 10, 2024, aims to enhance trade relations between India and the European Free Trade Association (EFTA) member states, including Liechtenstein.

EFTA has proposed to eliminate tariffs on 92.2% of its tariff lines, which would cover 99.6% of India's exports to these countries. In return, India is set to eliminate tariffs on 82.7% of its tariff lines, covering 95.3% of EFTA exports.

The agreement includes a commitment from EFTA nations to invest $100 billion in India over the next 15 years, with a structured timeline of $50 billion in the first decade and another $50 billion in the following five years. This investment is expected to create approximately one million direct jobs in India.

The TEPA will provide Indian exporters with better access to European markets while ensuring compliance with rules of origin for preferential tariff treatment. This is crucial for fostering trade and economic integration.

For the first time, the TEPA incorporates commitments to human rights and sustainable development, reflecting a modern approach to trade agreements.

These discussions indicate a significant step forward in strengthening economic ties and enhancing mutual benefits through the TEPA framework.

Ukraine Situation

During the meeting both the leaders addressed the ongoing situation in Ukraine. Although specific details of their discussion were not disclosed, Jaishankar emphasized the importance of cooperation in addressing global challenges, including the conflict in Ukraine.

This reflects India's stance on advocating for dialogue and peaceful resolutions to international conflicts, aligning with its broader diplomatic approach in multilateral forums like the United Nations.

In conclusion, Jaishankar highlighted the importance of these topics in a post on social media, indicating a commitment to strengthening bilateral relations and addressing global challenges collaboratively.

The meeting underscores India's proactive diplomacy and its efforts to enhance partnerships with European nations amidst a complex geopolitical landscape.

Agencies