Friday, August 08, 2008

ASEAN and India ready for free trade

India has concluded talks with the Association of Southeast Asian Nations (ASEAN) to form a free trade area (FTA) as part of efforts of build a European Union-like market in the near future.

India's Commerce Secretary Gopal Pillai today said the deal would be formally announced on Aug. 28 and is expected to be signed in New Delhi in December.

The agreement seeks to remove or reduce most tariffs and restrictions on trade goods, although some sensitive sectors are excluded from the pact. The idea is to eventually also liberalize the flow of services between the region. At some point a single regional market would also likely have its own unified currency.


AFP

ASEAN, India agree on FTA; to create EU-like market
Press Trust of India, India - 4 hours ago
The Commerce Secretary had met Asean's Senior Economic Officials (SEOM) during the Asean-India Consultations at the 4th Meeting of the 39th SEOM in Brunei. ...
Philippines welcomes ASEAN-India free trade pact Inquirer.net
Thai trade with India could double after ASEAN deal Channel News Asia
FTA: India, ASEAN sort out differences over tariff cuts Economic Times

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