Asean-India free trade agreement expected for summit
Monday, 26 January 2009, 17:04 IST
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Bangkok: A free trade agreement between India and South-east Asia is expected to be signed at the upcoming summit of the Association of South-East Asian Nations (Asean), state-run media reported Sunday. Director-general Apiradi Tantraporn of Thailand's Foreign Trade Department said the pact was planned for the 14th Asean Summit scheduled Feb 27-March 1 at Hua Hin beach resort, 130 km south-west of Bangkok, the Thai News Agency reported. The agreement would reduce Indian tariffs to zero on 3,666 imported items from South-East Asia by the end of 2012. Asean-made goods expected to gain from zero tariff include refrigerators, fans, air-conditioner parts, jewellery and ornamental goods, rubber products and plastic resins, Apiradi told the agency. Asean comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. A partial trade agreement that has already gone in to effect between Thailand and India covers only 82 items. "The Asean-India FTA, if signed during the summit, will help boost investment in India and also trade among the South-east Asian bloc member countries because of using raw materials manufactured by Asean members on goods to be exported there," Apiradi said.
Source: IANS
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