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Kamal Nath leaves for Philippines Asean Summit
12 Jan '07
3 min read
For trade in goods, the negotiations commenced in January 2004 but the Agreement could not be implemented by the stipulated timeframe due to differences of opinion on rules of origin, tariff concessions etc. According to the new timeframe for FTA in goods, the ASEAN-India FTA was to commence from 1st January, 2007 and the negotiations were to be concluded by June 2006.
While agreement has been reached on the Rules of Origin, the Negative or Sensitive List, modality for tariff reduction and elimination etc. are being negotiated by the ASEAN-India Trade Negotiating Committee (TNC) which has held several meetings so far. Negotiations in trade in services and investments are expected to begin shortly.
India's bilateral trade with ASEAN countries has more than doubled in just 3 years, having increased from a level of $ 9.7 billion 2002-03 to over $ 21 billion in 2005-06.
While agreement has been reached on the Rules of Origin, the Negative or Sensitive List, modality for tariff reduction and elimination etc. are being negotiated by the ASEAN-India Trade Negotiating Committee (TNC) which has held several meetings so far. Negotiations in trade in services and investments are expected to begin shortly.
India's bilateral trade with ASEAN countries has more than doubled in just 3 years, having increased from a level of $ 9.7 billion 2002-03 to over $ 21 billion in 2005-06.
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