India, China to start talks on free-trade agreement
Times of India | 28 Sep 2007
India, China to start talks on free-trade agreement
Saibal Dasgupta ,TNN
BEIJING: China and India have started to talk in terms of a free trade agreement, which would mean a giant stride in the relationship between the two countries. Officials of the two nations are scheduled to meet in New Delhi next month to work out some of the modalities that would pave the way for serious negotiations on the proposed FTA.
China’s ministry of commerce has announced that officials of the two sides have made important progress in jointly studying the feasibility of initiating a regional trade arrangement.
The announcement came after two days of consultations, which resulted in a basic agreement on measures needed to facilitate agreements concerning cargo and service trade and investment, ministry spokesman Wang Xinpei said.
The process of joint research would be concluded at the next meeting in October. The two countries have been involved in joint research on the subject since March 2006. Once the research in concluded, the two sides will decide whether it was time to start negotiations on a free trade agreement, Wang said.
"If you are not part of RTAs, you stand to lose," vice minister of Commerce Yi Xiaozhun said. Beijing is talking to 28 countries and regions on regional trade arrangements. It has signed FTA with Chile and Pakistan and a cargo trade agreement with the Association of Southeast Asian Nations.
