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Economic and financial cooperation issues are expected to figure prominently when Switzerland’s Economic Affairs Minister Johann N Schneider Ammann meets Finance Minister Arun Jaitley here on Friday.
Discussions during Ammann’s visit will focus on bilateral economic relations, negotiations on the free trade agreement between EFTA (European Free Trade Association) and India, and economic developments in South Asia, according to the Swiss Federal Department of Economic Affairs.
The visiting Minister will also meet Commerce & Industry Minister of State (Independent) Nirmala Sitharaman.
Stolen dataAmmann’s meeting with Jaitley assumes importance as it comes on the heels of the Swiss Cabinet’s plans on addressing the issue of stolen data with regard to banking information requests from other countries.
The Swiss Cabinet met on Wednesday and decided to propose a clarification of the legal situation (regarding administrative assistance based on stolen data) to Parliament.
The Cabinet decision comes at a time when Switzerland is under intense scrutiny to respond to requests for information.
Refusal to entertain requests even when they are based on stolen data could cost Switzerland the chance to clear phase 2 of the OECD tax transparency review process.
India has been at receiving end of the Switzerland’s stance that it cannot entertain requests for banking information based on stolen data.
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