China and India, the two giants of Asia, have been talking (unconvincingly) of the possibility of a bilateral free trade agreement for several years. A feasibility study was completed in October 2008, but there is much opposition from India’s business sector as well as many other political complications that are likely to keep the idea on a very low flame for a while.
last update: May 2012
One of the objectives of Indian Prime Minister Dr Manmohan Singh’s forthcoming visit to Beijing is to push for a free trade accord between India and China, preliminary work on which has begun.
India is considering a Free Trade Agreement with China but a decision will be based on sensitivities of domestic industry. Minister of State for Commerce and Industry Jairam Ramesh categorically stated that agriculture will not be included in FTAs.
India is likely to soon initiate formal negotiations for a free trade agreement (FTA) with China, the third largest destination for Indian goods and the biggest source of imports. A task force comprising officials from both countries recently submitted its report saying the FTA was feasible.
India’s apex business chamber FICCI said India should not rush into a Free Trade Agreement with China, warning that ambitious tariff cuts can derail the growth momentum in bilateral trade.
Chinese and Indian trade officials will meet in Beijing next month to discuss the viability of initiating a regional trade arrangement, Ministry of Commerce spokesman Wang Xinpei said on Wednesday at a regular press conference.
Trade within South Asia can be more than doubled if appropriate regional agreements on roads, rail, air, and shipping are put in place. A comprehensive report prepared by the World Bank ahead of the Saarc Heads of State Summit in New Delhi on April 3 to 4 has suggested that the instrumentality of South Asian Association for Regional Cooperation (Saarc) be deployed not in promoting South Asia Free Trade Agreement (Safta) but project by project cooperation in areas of mutual interest.
India and China are going to give a fresh try to a bilateral trade agreement later this week, with officials from the two sides meeting in New Delhi, armed with a second opinion.
India and China will sign at least half a dozen trade agreements during Chinese President Hu Jintao’s four-day visit to India, but no free trade agreement (FTA) is on the cards, Commerce and Industry Minister Kamal Nath said Monday.
A slew of trade and investment agreements will be signed between India and China during the visit of Chinese President Hu Jintao next week, even though the Indian government and industry are not yet ready for a free trade agreement between the two Asian giants.
India has good reasons to be apprehensive about a free trade agreement (FTA) with China, even as Beijing is more than eager.