Guidelines for India-Asean FTA cleared
The Trade and Economic Relation Committee of the Prime Minister on Monday cleared the negotiating guidelines for India-Asean Free Trade Agreement.
By PTI |
NEW DELHI: The Trade and Economic Relation Committee of the Prime Minister on Monday cleared the negotiating guidelines for India-Asean Free Trade Agreement.
These guidelines will define India's strategy at the next meeting of trade negotiating committee for finalisation of the FTA, which is scheduled to meet on December 1-2, official sources said.
India-Asean FTA is facing rough weather due to difference between both sides on the rules of origin.
Rules of origin are the rules that spell out a product origin in a country.
While India wants a 40 per cent value addition norm and change in tariff head at four digit level, Asean is insisting on just 40 per cent value addition.
Besides, India-Asean FTA, the TERC also cleared the joint study group for IBSA (India-Brazil-South Africa) initiative.
The committee also gave its post de-facto approval to the India Indonesia joint study group on comprehensive economic cooperation agreement.
These guidelines will define India's strategy at the next meeting of trade negotiating committee for finalisation of the FTA, which is scheduled to meet on December 1-2, official sources said.
India-Asean FTA is facing rough weather due to difference between both sides on the rules of origin.
Rules of origin are the rules that spell out a product origin in a country.
While India wants a 40 per cent value addition norm and change in tariff head at four digit level, Asean is insisting on just 40 per cent value addition.
Besides, India-Asean FTA, the TERC also cleared the joint study group for IBSA (India-Brazil-South Africa) initiative.
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The committee also gave its post de-facto approval to the India Indonesia joint study group on comprehensive economic cooperation agreement.
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