India-Nordic Summit in Oslo: Expanding Cooperation

New Delhi, May 14 (PTI) The next India-Nordic summit is expected to take place in Oslo later this year to explore ways to further expand two-way cooperation in diverse fields.

The issue figured at the 11th India-Norway foreign office consultations (FOC), held in Delhi on Tuesday.

In the meeting, the two sides discussed ways to expand and diversify bilateral ties in the fields of blue economy, renewable energy, climate and environment, green hydrogen, green shipping, fisheries, water-management and cooperation in the Arctic.

"Both sides also had preliminary discussions about the next India-Nordic summit, which is expected to be held later this year in Oslo," the Ministry of External Affairs (MEA) said.

The first India-Nordic Summit was held in Stockholm in April 2018 while the second summit took place in Copenhagen in May 2022.

The two sides also lauded the signing of the Trade and Economic Partnership Agreement (TEPA) between India and EFTA member states (European Free Trade Association) in March.

The EFTA States -- Iceland, Liechtenstein, Norway and Switzerland signed the TEPA with India after around 16 years of negotiations.

Under the mega trade pact, the four European countries are looking at making an investment of USD 100 billion in India over the next 15 years.

The trade deal will provide a window to Indian exporters to access large European and global markets besides allowing companies from the four EFTA countries to expand businesses and investment in India.

"They also lauded the signing of India-EFTA TEPA this year in March 2024, and hoped to expedite the implementation of the agreement at the earliest, which will further enhance bilateral trade and investment," the MEA said on the India-Norway FOC.

It said the two sides also exchanged views on UN reforms, especially in the context of the 'Summit of the Future'.

"There was a good exchange of views on regional and global issues of mutual interest," the MEA said in a statement.

The Indian delegation at the talks was led by Pavan Kapoor, Secretary (West), in the MEA.

The Norwegian delegation was headed by Torgeir Larsen, Secretary General in Norway's Ministry of Foreign Affairs.