Home / Knowledge / News / ASSOCHAM study says tariff barriers may hit ASEAN business prospects

ASSOCHAM study says tariff barriers may hit ASEAN business prospects

26
Sep '05
While Singapore will emerge as a major trade partner for India in the ASEAN in services, banking and legal profession, its trade prospects in other ASEAN countries such as Thailand, Malaysia, Indonesia, Philippines and Vietnam will suffer significant jolts because of protective measures both tariffs and non-tariffs which these nations are unlikely to lift until FTA between India and ASEAN is executed by 2012.

These findings have been revealed in a Study conducted by The Associated Chambers of Commerce and Industry of India (ASSOCHAM) on `India-ASEAN FTA : Business Complimentarities, Trade Advantages & Rules of Origin' which has been submitted to the Ministries of Commerce and Industry and Finance.

Though India and ASEAN signed FTA in 2003 and the former has already started rationalising its tariff structure by bringing them down from 40% to 20%, Thailand, Malaysia, Indonesia, Philippines and Vietnam have not responded as was desired in rationalising their protective measures against India's exports to them in areas like transport and electrical equipment, copper products, polyethylene, textile products, cement, rubber, tea, steel, dairy products and refined sugar etc.

Releasing the Paper, ASSOCHAM President, Mr. Mahendra K. Sanghi pointed out that ASEAN members like Malaysia, Indonesia, Philippines , Vietnam and Thailand continue to impose tariff barriers on the aforesaid items of Indian exports ranging from 17.6% to 47.6% and in textile and watchessegment, the tariff exceed even 50%, while on an average India's tariff structure against these countries does not exceed 20%. In such a scenario, it will be extremely difficult for India to accelerate its trade prospects with these countries, added Mr. Sanghi.


Must ReadView All

Vietnam textile sector opposes plan to hike retirement age

Apparel/Garments | On 24th May 2019

Vietnam textile sector opposes plan to hike retirement age

Vietnam's textile firms have rejected the proposal to raise...

Nike, Adidas criticise tariffs in open letter to Trump

Apparel/Garments | On 24th May 2019

Nike, Adidas criticise tariffs in open letter to Trump

Nike, Adidas and 171 other footwear companies recently wrote a letter ...

Qualspec team. Pic: Sgt

Textiles | On 24th May 2019

Sgt adds two new textile laboratories in China

Worms Safety, the alliance of specialists in safety and quality...

Interviews View All

Smith Vaghasia, Sanado India

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Victor Chao, Esmetex

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Mukesh Agarwal & Rajesh Agarwal, Madhuram Fincap Pvt Ltd

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Will Qian,

Will Qian

Honghua Digital Technology Stock Co., Ltd. specialises in the R&D,...

Mark Tokuhara,

Mark Tokuhara

Japan-based FitJoy, a shoe brand for women, has been in the footwear...

Sham Shah,

Sham Shah

Shamal and Shamal Pvt Ltd is into manufacturing and sales of textile...

Johan Berlin, Investkonsult Sweden AB

Johan Berlin
Investkonsult Sweden AB

Investkonsult Sweden AB are consultants in the nonwoven and absorbent...

Steve Cole, Xerium Technologies

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Larry L Kinn, Suominen Corporation

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search