The Government’s announcement to initiate free trade agreements (FTAs) with neighbouring economies, including ASEAN and Gulf countries, by 2006 has given Indian industry cause for concern.
Move over World Trade Organization (WTO), regional trade arrangements are here to rule.
Mauritius and India are expected to sign a preferential trade agreement (PTA) next week to boost the island’s exports and provide India with the opportunity to tap into African markets.
There has been a spate of trade agreements signed between countries in recent years - from the same region and even beyond. And this may not necessarily have to do with the fact that it has been a tough going for the multilateral trading system. Regionalism may have its own dynamics.
Underscoring the need for a Free Trade Agreement between India and Bangladesh, Indian High Commissioner to Dhaka Veena Sikri today said it was important to overcome a "negative" mindset to help boost trade between the two countries.
Japan’s Mitsubishi Motor has set its sights on Thailand and other Asian nations for future expansion, the president of the automaker said on Tuesday. "With FTAs (free trade agreements) envisioned with Asian countries, such as ASEAN and India, we should reap benefits of such initiatives," Masuko said.
The first round of free trade negotiations between the Gulf Cooperation Council and India and Pakistan will commence by the middle of November 2005.
Terming an India-Brazil-South Africa (IBSA) Free Trade Agreement as a “distinct possibility”, the Indian government said it is looking at other ways of enhancing trade relationship with the two countries.
The much-publicised Thai FTA seems to be stuck in first gear. According to sources in the auto industry, it is stuck over the rules of origin issue, which has been a contentious issue right from the beginning.
India is exploring the possibility of a Comprehensive Economic Cooperation Agreement (CECA) with Australia, of which a Free Trade Agreement (FTA) would be a component, Kamal Nath, Union Minister of Commerce and Industry, said during discussions on Tuesday with Dr. Geoff Gallop, Premier of Western Australia.
With a view to further promoting India’s global engagement through regional trading arrangement, Indian Prime Minister Manmohan Singh today gave the green signal for starting negotiations with South Korea for signing a Comprehensive Economic Partnership Agreement (CEPA).
Southeast Asian economic ministers knuckled down here Wednesday to thrash out free trade agreements (FTA), with historically high oil prices intensifying calls for greater regional cooperation.
Asean’s economic officials have proposed to amend the implementation of Asean-India Free Trade Area (FTA) Agreement from Jan 1, 2006, to Jan 1, 2007.
While Singapore will emerge as a major trade partner for India in the ASEAN in services, banking and legal profession, its trade prospects in other ASEAN countries such as Thailand, Malaysia, Indonesia, Philippines and Vietnam will suffer because of protective measures, both tariff and non-tariff, which these nations are unlikely to lift until the Free Trade Agreement (FTA) between India and ASEAN is executed by 2012.
Pakistan is going to hold secret talks to make some changes in the existing Free Trade Agreement (FTA) with Sri Lanka, which has been operational since June 2005. Pakistan fears that under the FTA, Indian products can enter its market through Sri Lanka, particularly automobile parts.
Tata Motors was in the process of setting up a pick-up truck manufacturing plant in Thailand, from where it could access the ASEAN and the Chinese markets through the Free Trade Area (FTA) treaties, a top Thailand trade representative said here.
India and Mauritius are likely to enter into a Preferential Trading Agreement before going for a Comprehensive Economic Cooperation Agreement (CECA).
The Intellectual Property Regime in India is in the final stages of ensuring compliance with the standards agreed in the World Trade Organization’s Agreement on the Trade Related Aspects of Intellectual Property Rights (‘TRIPS’).
There is a lot of anxiety in the developed world that Asia, buttressed by markets such as China and India, might be emerging as a big free trade block by itself.
Thailand has advised India not be deterred by the "aftershocks" of a tariff reduction on products under the Early Harvest Scheme in the Indo-Thai Free Trade Agreement (FTA) initiated in September last year.