ASEAN to discuss FTA with India
With India still not ready to sign the Free Trade Agreement (FTA) with ASEAN at its 14th summit scheduled here, officials of the 10-nation bloc are holding more discussions seeking a breakthrough on the matter.
By PTI |
BANGKOK: With India still not ready to sign the Free Trade Agreement (FTA) with ASEAN at its 14th summit scheduled here, officials of the 10-nation bloc are holding more discussions seeking a breakthrough on the matter.
"We are still working at the official level on further discussions. We also hear from the official channel that India is not ready," deputy secretary-general for the ASEAN economic community, S Pushpanathan told reporters yesterday.
"I would like to discuss this with Malaysia, the lead in the (Asean-India FTA) negotiation Thursday," Malaysian news agency Bernama quoted Pushpanathan as saying.
The discussions will take place at Hua Hin, the venue of the summit, Pushpanathan said.
"On the part of ASEAN we are ready and there is something that India has to sort out," he said, adding that the sequence of reduction in tariffs, which will result in two cuts in one fiscal year, is a factor.
"India feels this is too much for them," Pushpanathan said.
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Meanwhile in New Delhi, the Commerce and Industry Minister Kamal Nath said India is "in advanced stage of negotiations" for signing the trade-opening pact with ASEAN. The summit is likely to be held in March this year.
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