India, Asean Sign Deal On Free Trade In Goods

[churchill]

BANGKOK (Reuters) - India and the 10-country Southeast Asian bloc ASEAN signed a long-delayed free trade agreement on Thursday after more than six years of negotiations.

Thai and Indian officials said the Free Trade Agreement (FTA) would eliminate tariffs on products including electronics, chemicals, capital goods and textiles, that account for more than 80 percent of total trade in goods between the two sides.

Tariffs on those products would be reduced to zero between 2013 and 2016, according to a joint statement issued just before the signing ceremony.

ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

http://in.biz.yahoo.com/090813/137/bau1cf.html

-- Reuters 13/08/09

[churchill]

Asean inks FTA with India

By The Nation

Asean and India have finally signed the long-awaited Free Trade Agreement (FTA) on trade in goods during the 41 st Asean Economic Ministers (AEM) meeting in Bangkok.

As a result, the bilateral trade between Asean and India is expected to reach US$60 billion in 2016, from $47 billion last year. The trade pact was signed on Thursday.

"Trade should grow significantly after the pact's implementation next year. It is another step of Asean's accomplishment in order to bolster trade growth to our partners," said Commerce Minister Porntiva Nakasai, who chaired the 41st Asean Economic Ministers (AEM) meeting.

The FTA will be implemented on January 1 next year.

http://www.nationmultimedia.com/2009/08/13...ss_30109733.php

-- The Nation 13/08/09