New Delhi, Oct 27 Prime Minister Narendra Modi and Liechtenstein’s Prince Alois on Tuesday held wide-ranging talks focusing on boosting bilateral ties in areas of trade, technology and mobility of talents.
Prince Alois, presently serving as the acting head of the tiny European nation, is on a four-day visit to India from Sunday. He is accompanied by his spouse Princess Sophie and a business delegation comprising several top industry leaders.
Secretary (West) in the Ministry of External Affairs, Sibi George, said at a media briefing that Modi and Alois explored ways to enhance bilateral ties in areas of trade and investment, advanced manufacturing, technology, innovation, financial services, agriculture, space, education, and skills development.
The two sides also discussed the possibility of having a double taxation avoidance agreement, he said.
“There was a clear emphasis on advancing three Ts: trade, technology, and talent, for deepening bilateral cooperation and also cooperation with the EFTA countries of which Liechtenstein is an important member,” George said.
The visit to India by the Liechtenstein’s Prince came over a year after coming into effect of the Trade and Economic Partnership Agreement (TEPA) between New Delhi and the EFTA countries.
The TEPA was signed between India and the European Free Trade Association (EFTA) in March, 2024 following nearly 16 years of negotiations.
The pact came into effect in October last year. Under the mega trade pact, the EFTA states of Iceland, Liechtenstein, Norway and Switzerland are looking at making an investment of USD 100 billion in India over the next 15 years.
The “historic visit” of Prince Alois “marks a new beginning” in India-Liechtenstein relations by elevating our political engagement, strengthening institutional linkages, and opening new avenues of cooperation, George said.
“The focus now is on implementation (of the new initiatives) by translating the understanding reached during the visit into concrete projects, partnerships, and outcomes,” he said.
Ahead of Prince Alois’s talks with PM Modi, External Affairs Minister S Jaishankar met the visiting leader and discussed various aspects of the bilateral relations.
“Our bilateral partnership is witnessing strong momentum across a wide range of domains, driven by the opportunities enabled by India-EFTA TEPA,” the external affairs minister said on social media.
In a post on X, External Affairs Ministry spokesperson Randhir Jaiswal said the visit to India by the Liechtenstein leader underscored the shared commitment of the two countries to deepen bilateral engagement and explore new avenues of cooperation.
Prince Alois was also accorded a ceremonial welcome at the Rashtrapati Bhavan in the morning.
(PTI News)
