India, ASEAN to review talks on FTA in services, investment

Tags: Asean, FTA, India, News
Trade ministers of India and 10-member ASEAN will review the progress of ongoing negotiations to widen the base of free trade agreement between them by including services and investments.

Commerce and Industry Minister Anand Sharma, who is on a four-day visit to Siem Reap (Cambodia), would participate in the Asean Economic Ministers (AEM) meet.

"In the AEM, progress on agreement on trade in services and investment with ASEAN will be reviewed," Commerce and Industry Ministry said in a statement.

The India-ASEAN trade in goods agreement was signed in August 2010 after six years of negotiations and it came into force on January 1 last year.

Services and Investments could not be included in that free trade agreement as the two sides failed to reconcile their differences in time and it was decided to have a separate pact on these sectors.

ASEAN member nations are Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

Two-way trade between ASEAN and India in 2011-12 stood at $ 80 billion.

Sharma will also attend the meeting of ASEAN plus its free trade agreement partners consultations. It will include trade ministers of China, India, Japan, South Korea, Australia and New Zealand.

"Discussions will be held on the proposed Regional Comprehensive Economic Partnership," it added.

In addition, the minister will also have bilateral meetings with his counterparts.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Neither secular nor socialist, India at 66 is back where it began

    The republic has entered its 66th year but the nation is more than just another year older.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Kumar Jain

Building great cities (and nations)

Fifteen to twenty years’ span is the time when humans ...

Kuruvilla Pandikattu SJ

Defining success differently

Researchers spent four decades studying a group of mathematically talented ...

Shona Adhikari

All roads lead to Delhi, as it gears up for art fair

With the seventh edition of India Art Fair (IAF) coming ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture