The Union Cabinet on Thursday discussed the proposed free trade agreement between India and four European nation bloc EFTA and the pact is likely to be inked on Sunday, said sources. The negotiations for the pact with the European Free Trade Association (EFTA) members -- Iceland, Liechtenstein, Norway, and Switzerland -- have concluded. The pact is expected to be signed on Sunday here, sources added. India and EFTA have been negotiating the pact, officially dubbed as Trade and Economic Partnership Agreement (TEPA), since January 2008 to boost economic ties. The agreement has several chapters including trade in goods, rules of origin, intellectual property rights (IPRs), trade in services, investment promotion and cooperation, trade and sustainable development, and trade facilitation. EFTA has 29 free trade agreements (FTAs) with 40 partner countries, including Canada, Chile, China, Mexico, and Korea. Under free trade pacts, two trading partners significantly reduce or eliminate . Read The Rest at :