Sitharaman and Swedish minister set up mechanism to further trade

The JCEC meeting provided an excellent opportunity to review the cooperation in trade and investment

Sourced from Press Information Bureau

The Eighteenth Session of India-Sweden Joint Commission for Economic, Industrial and Scientific Cooperation (JCEC) was held in New Delhi on May 17, 2017. 

The Indian delegation led by Nirmala Sitharaman, and the Swedish delegation led by Ann Linde, Minister for Trade and EU Affairs, Ministry for Foreign Affairs, expressed their satisfaction that considerable substance and contents had been added to bilateral relations during the last 2 years and reiterated their mutual desire and commitment to further strengthen the existing trade and investment relations and all-round bilateral cooperation. 

The deliberations at the JCEC meeting provided an excellent opportunity to review the current state of ongoing cooperation in diverse fields such as Trade and Investment, Sustainable Urban development, Micro Small and Medium Enterprises, Environment, Education, Health, Renewable Energy, Science & Technology, etc. 

The two sides also identified Telecommunications, Sustainable Urban transport and road safety, traditional medicine and Food Science & technology as other areas where the potential for cooperation exists. 

The two sides are working towards a Memorandum of Understanding in order to strengthen the cooperation in the field of Intellectual Property. It was also agreed to expedite the finalisation of other bilateral agreements currently under discussion. 

Both sides expressed interest in promoting innovation partnerships between the two countries. 

It was also agreed that both sides would establish mechanisms for Swedish/Indian companies to facilitate their investments and business in India and Sweden and conduct regular meetings between Governments/ businesses for facilitating the same.