Swiss Economics Minister Doris Leuthard and India’s Commerce and Industry Minister, Kamal Nath have signed an Memorandum of Understanding (MoU) aimed at protecting intellectual property rights. The deal came during a visit to India by Leuthard who is looking to improve conditions for Swiss companies in the country. According to a statement by the Swiss economics ministry, the MoU, which was signed in New Delhi on 07 August, establishes a working group to prevent the production, distribution and sale of counterfeit products, and envisages an exchange of information and experiences between delegations as well as the possibility of involving representatives from trade and industry on a case-by-case basis. Counterfeits are reckoned to cost the Swiss economy around US$1.67 billion per year. 

During a meeting with Nath and Finance Minister Palaniappan Chidambaram, Leuthard also discussed ways of improving general conditions for Swiss businesses in India. Talks also focused on future prospects for international negotiations on liberalising trade as well as the moves for a possible trade and investment agreement between India and the European Free Trade Association (EFTA), which includes Switzerland, Liechtenstein, Norway and Iceland. 

Switzerland has a long-standing relationship with India. Next year will mark the 60th anniversary of the signing of the Treaty of Friendship and Establishment of Diplomatic Relations, which was concluded on 14 August 1948. This is significant because it was the first such treaty signed by independent India with another country.

Source Swiss Info. Visit http://www.swissinfo.org for more economic information on Switzerland