It won’t be ’palm oil FTA’ with ASEAN: Nath
PTI | April 17, 2007
It won’t be palm oil FTA with ASEAN: Nath
BEIJING: India, whose palm oil products import was 77 per cent of total edible oils shipped in between November and March, will ensure that the proposed Free Trade Agreement with ASEAN does not end up as a ’palm oil FTA.’
"Talks on the FTA with the Association of Southeast Asian Nations is moving along. We want to make sure that this not a palm oil FTA," Commerce and Industry Minister Kamal Nath told reporters after concluding high-level meetings here.
"We want to make sure that this is an FTA which encompasses all ASEAN countries and most of the things have been ironed out," he said.
India imported 1.4 million tonnes of edible oil between November 2006 and March 2007, out of which 1.07 million tonnes constituted palm oil group products.
In 2005-06, total edible oil arrival stood at 4.41 million tonnes, with palm oil group accounting for 2.57 MT.
Negotiations between India and the ASEAN trading bloc were stuck for a long time over differences on concessions on items in the highly sensitive list.
ASEAN member nations include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.
Commenting on the possibility of a Regional Trading Arrangement (RTA) between India and China, Nath said the Final Report on the possibility of an India-China RTA will be submitted in October 2007.
Asked if India is ready for a RTA with the Communist trading giant, the Commerce Minister said: "Let us see what the report says. China has to have transparency in many things."
