Even as the negotiations for the impending India- European Union (EU) free trade agreement (FTA) seem to have entered the last stage, heavy industries minister Praful Patel has written to Prime Minister Manmohan Singh expressing concerns on the adverse impact of such a move on the domestic industry.
The Canadian units of the Japanese auto makers are spearheading an effort to persuade Ottawa to begin negotiations with Japan on a bilateral free-trade agreement amid a new, more liberal attitude the Asian nation is taking toward such deals.
South Korea’s car exports to the European Union (EU) surged 40.1 percent on-year in the first 10 months of 2011, fueled by the bilateral free trade pact, a local industry association said Tuesday.
Following the expected Most Favoured Nation (MFN) status to India by Pakistan, PAAPAM says both the countries should allow transfer of technology through joint ventures and technical assistance agreements, making the regional industry competitive, say auto industry experts while talking to journalists here on Monday.
The local automotive industry has asked the government to remind Japan of its commitment to bring in fresh investments into the Philippines under the Japan-Philippines Economic Partnership Agreement.
Kia spent $150,000 in the first quarter of this year to lobby members of the US House and Senate on matters that included the Korea-US free-trade agreement, according to federal lobbying records.
Heavy Industry Minister Praful Patel has said the Commerce Ministry is "broadly supportive" of the view that the domestic automobile industry should be protected when India signs a free trade agreement with the European Union.
For over four years now, India has been negotiating a Free Trade Agreement (FTA) with the European Union (EU) - the largest trade and investment deal the country has ever embarked on. As much as New Delhi expects to lure the European market and investments closer to India, the actual consequences for the country’s economy could be dire: the open up of public procurement, the deregulation of the banking, automobile, retail and mining industries plus the adverse impact the deal will have in small-scale farmers make of this FTA a counter-productive undertaking.
At a time when India and the EU are struggling to negotiate duty cuts on automobiles, New Delhi will drastically reduce tariffs on diesel engines and gear boxes from Japan under their free trade pact.
Swedish carmaker Volvo says it does not plan to assemble cars in India as it was expecting an import duty cut on completely built units, assembled in Sweden, under the India-EU free trade agreement likely to be finalised shortly.
The European Union has sought substantial reduction or even elimination of duties in export of its automobiles, wines and spirits to India as a "must have" in the free trade agreement being negotiated between the two sides.
Free-Trade agreements with South Korea and Taiwan.
This is what the State-owned think tank Philippine Institute for Development Studies (PIDS) is urging the government to forge in order to help boost the local automotive industry.
Japanese carmakers such as Toyota and Honda struggled to secure a firm market share here in the first half of 2011 while other imported auto brands boasted record sales.
Amid speculations of India giving in to EU’s demand on lowering duty on imported cars in the proposed free trade agreement (FTA), the auto industry has cautioned that if such a concession was granted, future investments in the sector in the country will be hit.
Suriname has taken steps to protect the restrictions on the imports of secondhand cars that are in force because of Economic Partnership Agreement (EPA) between the region and Europe.
The world’s largest carmaker, Toyota, has said it would be unfair to Japanese carmakers in India, who have invested more and for a longer time, if Europe-made cars get import-duty incentives under the Indo -European Union Free Trade Agreement.
Vehicle importers are urging the government to implement the scheduled tariff cuts under the Asean free trade agreements (FTAs) with China and Korea.
India will protect its automobile industry as it has reached the final stages of negotiations for a free trade agreement with European Union.
The possibility of fully-built vehicles being included in India’s FTA with EU — home to auto majors like Volkswagen, BMW, Mercedes Benz, Fiat and Renault — is causing considerable heartburn in the auto industry.
India’s proposed free trade agreement (FTA) with the European Union could include tariff reduction on import of vehicles as well as automotive components.