India trying for a deal with ASEAN on FTA before Nov 17
India is trying to bridge differences over a free trade agreement with ASEAN and strike a deal before the 10-nation bloc goes for a summit.
By PTI |
NEW DELHI: India is trying to bridge differences over a free trade agreement with the Association of South East Asian Nations (ASEAN) and "strike a deal" before the 10-nation bloc goes for a summit, likely to be attended by Prime Minister Manmohan Singh, between November 17 and 20.
"We have put our best offer on the table. However, the offer of ASEAN is not enough. On their side, they want us to cut duties on products such as palm oil, pepper, tea and coffee," Commerce Secretary G K Pillai said at a CII seminar last evening.
He said officials from both sides are in constant touch and are trying to strike a deal before the summit, to be held in Singapore.
"We are trying to sort out differences. It will be our last effort. Otherwise, we will have to continue with the negotiations," he said.
The India-ASEAN FTA is delayed because of differences over tariff cuts of politically-sensitive agricultural products. Some key ASEAN members like Indonesia and Malaysia want cuts in duties on the plantation products, a demand on which India is not willing to yield beyond a point.
ASEAN has put a lot of items on the sensitive list and do not want to give much market access to Indian products. Indian negotiators have to get some meaningful market access to make the FTA a success, official sources said.
"We have put our best offer on the table. However, the offer of ASEAN is not enough. On their side, they want us to cut duties on products such as palm oil, pepper, tea and coffee," Commerce Secretary G K Pillai said at a CII seminar last evening.
He said officials from both sides are in constant touch and are trying to strike a deal before the summit, to be held in Singapore.
"We are trying to sort out differences. It will be our last effort. Otherwise, we will have to continue with the negotiations," he said.
The India-ASEAN FTA is delayed because of differences over tariff cuts of politically-sensitive agricultural products. Some key ASEAN members like Indonesia and Malaysia want cuts in duties on the plantation products, a demand on which India is not willing to yield beyond a point.
ASEAN has put a lot of items on the sensitive list and do not want to give much market access to Indian products. Indian negotiators have to get some meaningful market access to make the FTA a success, official sources said.
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