Outlook India - 29 November 2019
India-ASEAN FTA review could include further liberalisation of trade in goods
The proposed scope of the review of the free trade agreement between India and ASEAN could include issues like customs procedures, further liberalisation of trade in goods and exchange of data, Parliament was informed on Friday.
The Association of Southeast Asian Nations (ASEAN)-India trade in goods agreement was signed on August 13, 2009, and entered into force on January 1, 2010.
"The proposed scope of the review could include implementation issues, rules of origin ; verification process and release of consignments ; customs procedures ; to take into account other negotiations on further liberalization of trade in goods ; and sharing and exchange of trade data," Commerce and Industry Minister Piyush Goyal said in a written reply to the Rajya Sabha.
In a separate reply, he said the US has made exploratory requests relating to greater market access for some of their products.
India has also made similar reciprocal requests for exploring the possibility of greater market access for Indian products, he said.