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India yet to sign Free Trade Agreement with Thailand: Govt
By agencies
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Thursday, 04 August 2005, 19:30 IST
NEW DELHI: The government today said that adverse effects of reduction of import duty on domestic employment opportunities were being monitored.
Commerce and Industry Minister Kamal Nath said even if something was conceded through reduction of import duty on some selected items, India stood to gain considerably by opening of other markets.
He said the new era of global challenges was all about give and take.
Nath clarified that India had not yet signed any Free Trade Agreement with Thailand though both countries have signed a Framework Agreement for establishing a Free Trade Area (FTA).
The Framework Agreement also provides for an Early Harvest Scheme (EHS) under which 82 common items have been agreed for elimination of tariffs by India and Thailand on a fast track basis by September, 2006 in a phased manner, he said.