Talks on ASEAN FTA may resume next week
The Hindu, India
Talks on ASEAN FTA may resume next week
6 October 2006
New Delhi, Oct. 6 (PTI): India and ASEAN will resume negotiations on the proposed free trade agreement next week in a bid to conclude talks by the end of this year.
"We will be meeting next week to discuss the issue... the Trade Negotiations Committee for ASEAN FTA will meet in a day or two," Commerce Minister, Kamal Nath, told reporters on the sidelines of a seminar here.
Nath said India has submitted a revised offer to the 10-nation block and was awaiting response from the grouping to take the talks forward.
Negotiations on the free trade pact had hit a roadblock in July, but the two sides agreed a month later to re-start talks. India had in August submitted a revised offer of tariff concessions.
New Delhi had reduced its negative list of items, which would not be subjected to tariff cuts, from 854 to 560, besides offering to cut tariffs on some other items such as palm oil, tea and pepper.
However, India’s offer had failed to impress ASEAN and the group wanted a further reduction in the negative list.
The Commerce Ministry has been consulting all stakeholders including industries, other ministries and departments on the proposed agreement.
India-ASEAN FTA was earlier scheduled to come into force from January 2007, but meeting that deadline now looks difficult as talks have not made much headway.
