Sensitive List for INDO-ASEAN FTA from tariff reductions

14 Mar '06

3 min read

The government in consultation with stakeholders throughout the country is finalising a negative list for the ASEAN-India Free Trade Agreement (FTA) in order to protect its sensitive products and sectors especially in agriculture while negotiating the FTA. Items in the negative list – also known as the Sensitive List – will be exempt from tariff reductions.

Addressing the wrap-up session of domestic stakeholder consultation for finalisation of the negative list titled “India-ASEAN FTA Negotiations: Wrap up Meeting” organised by UNCTAD here this morning, Shri S N Menon, Commerce Secretary, stressed that while finalising the list, the sensitivity of domestic industry would have to be considered and said he was confident that longer time-frames would give comfort to the Indian industry.

The Framework Agreement on Comprehensive Economic Cooperation between India and ASEAN, signed on 8th October, 2003, inter-alia, envisages a Free Trade Area (FTA) in goods, and conclusion of these negotiations by June, 2006. Shri Menon indicated that negotiations to cover services were also likely to be initiated shortly.

Those who participated in the one-day consultation were: Shri P.K. Dash, Joint Secretary, Ministry of Commerce & Industry; Ms. Sushma Berlia, President, PHD Chamber of Commerce & Industry; Dr Veena Jha, Project Coordinator, UNCTAD; Shri R Ratna, Director, Ministry of Commerce; Dr Shahid Ahmed; and Shri Abhijit Das & Dr Rashmi Banga of UNCTAD, along with a large number of stakeholders.

More Ministry of Commerce & Industry News... More Textiles News - India...