FTAs with Malaysia, Japan, EU in 1st half of 2011: Sharma

NEW DELHI: India will open its trade in goods and services with Malaysia, Japan and its largest trading bloc European Union in the first half of 2011, Commerce and Industry Minister Anand Sharma said today.

"Looking ahead, the first half of next year will see signing of agreements (comprehensive market and investment promotion) with Japan, Malaysia and EU," Sharma said here.

India has already signed a framework agreement for the Comprehensive Economic Cooperation Agreement ( CECA) with Malaysia and concluded negotiations for a similar pact with Japan.

With EU, which has a bilateral trade of USD 76 billion with India, differences had cropped up on the level of market opening and inclusion of certain issues like labour standards and environment.

After the India-EU Summit attended by Prime Minister Manmohan Singh in Brussels earlier this month, the negotiations have been intensified.

"We have also launched negotiations for CEPA (comprehensive economic partnership agreement) with New Zealand and Canada," Sharma said.

India has already entered into comprehensive market opening pacts with Singapore, South Korea and 10-nation economic bloc Asean.