ASEAN FTA talks on last mile, pact by May 2008: Nath
The much-awaited India-ASEAN Free Trade Agreement will be in place by May 2008 as substantial progress has been made in all areas, Commerce Minister Kamal Nath said here on Tuesday.
By PTI |
SINGAPORE: The much-awaited India-ASEAN Free Trade Agreement will be in place by May 2008 as substantial progress has been made in all areas, Commerce Minister Kamal Nath said here on Tuesday.
"Convergence is within reach. We are in our last mile, by May 2008 we will have the FTA with ASEAN in place," he said after meeting ASEAN economic ministers this evening.
He noted that the differences pertained to only four products and three countries, but expressed confidence that these issues would be sorted out soon.
"The FTA just needs some legal scrubbing and will be done by the May 2008 retreat meeting. The products where still some negotiations are going on are palm oil, pepper, tea and coffee involving Malaysia, Indonesia and Vietnam," he said.
"There is no deadlock. There has been substantial progress in the negotiations," Nath told reporters after he finished meetings with counterparts from Singapore, Malaysia and Vietnam and also a meeting with the other ASEAN ministers.
Nath said all trade pacts were a "win-win for everyone". "Timelines and deadlines are all important but what is most important is the bottom line and the bottom line is that the Asean-India FTA will be in place by May 2008," he said.
Asked to comment on Indonesian trade minister Mari Pangestu's statement that the 10-member bloc had put talks "on hold" until India came up with better offers, Nath said, "everybody has some perceptions". Nath, however, noted talks had definitely not stopped as he had met Vietnam, Singapore, Malaysia this morning to talk about the FTA.
"Convergence is within reach. We are in our last mile, by May 2008 we will have the FTA with ASEAN in place," he said after meeting ASEAN economic ministers this evening.
He noted that the differences pertained to only four products and three countries, but expressed confidence that these issues would be sorted out soon.
"The FTA just needs some legal scrubbing and will be done by the May 2008 retreat meeting. The products where still some negotiations are going on are palm oil, pepper, tea and coffee involving Malaysia, Indonesia and Vietnam," he said.
"There is no deadlock. There has been substantial progress in the negotiations," Nath told reporters after he finished meetings with counterparts from Singapore, Malaysia and Vietnam and also a meeting with the other ASEAN ministers.
Nath said all trade pacts were a "win-win for everyone". "Timelines and deadlines are all important but what is most important is the bottom line and the bottom line is that the Asean-India FTA will be in place by May 2008," he said.
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Asked to comment on Indonesian trade minister Mari Pangestu's statement that the 10-member bloc had put talks "on hold" until India came up with better offers, Nath said, "everybody has some perceptions". Nath, however, noted talks had definitely not stopped as he had met Vietnam, Singapore, Malaysia this morning to talk about the FTA.
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