Calling the signing of the India-EFTA Trade and Economic Partnership Agreement (TEPA) a “bold achievement”, External Affairs Minister S. Jaishankar said on Sunday that the move reflects a new way of furthering international economic collaboration.

India inked the landmark agreement with the four-nation European Free Trade Association (EFTA) in New Delhi to usher in increased trade and investment flows, job creation, and economic growth in the country.

“A great day for India’s partnership with Iceland, Liechtenstein, Norway and Switzerland,” EAM Jaishankar wrote on X as he congratulated his colleague and Commerce and Industry Minister Piyush Goyal for the pact that had been under negotiations for the last 16 years.

“The India-EFTA Trade & Economic Partnership Agreement (TEPA) signed today is a bold achievement. It reflects a new way of furthering international economic collaboration,” the minister added.