22.6 C
New York
Tuesday, July 27, 2021

India, ASEAN trade ministers call for starting discussions to determine FTA review scope

Must read

Chart Of The Day: Facebook Headed Higher On Bullish Fundamentals, Technicals

Facebook (NASDAQ:FB) shares surged on Friday, gaining more than 5% for the day. There were two reasons for that dynamic move. First, Credit Suisse raised...

Evandro e Bruno vencem marroquinos no vôlei de praia; Alison e Álvaro Filho são derrotados

Carteiras Recomendadas7 minutos atrás (27.07.2021 08:36) © Reuters. Evandro e Bruno Schmidt durante torneio de vôlei de praia da Tóquio 2020 27/07/2021 REUTERS/Pilar Olivares (Reuters) - Duas...

London judges agree to reopen $7 billion Brazil dam lawsuit against BHP

Economy7 minutes ago (Jul 27, 2021 07:36AM ET) (C) Reuters. FILE PHOTO: The debris of the municipal school of Bento Rodrigues district, which was covered...

Lucro da ADM dispara no 2º tri com forte demanda por produtos agrícolas

Ações8 minutos atrás (27.07.2021 08:36) © Reuters. Marca da ADM 3/05/2018 REUTERS/Brendan McDermid (Reuters) - A Archer Daniels Midland reportou nesta terça-feira um aumento de quase 52% em...

New Delhi: Trade ministers of India and 10-member ASEAN countries have instructed their officials to start discussions for determining the scope of review of free trade agreement (FTA) at the earliest with a view to make the pact more user-friendly, simple, and trade facilitative for businesses.

The issue was discussed during the 17th ASEAN-India Economic Ministers Consultations meet held virtually on August 29, an official statement said on Sunday.

Commerce and Industry Minister Piyush Goyal stated that the review of FTA in goods has been “inordinately delayed”, and requested to start the full review before the end of this year.

“The ministers from India and ASEAN countries instructed the senior officials to start the discussions to determine the scope of the review at the earliest to, inter-alia, make the free trade agreement more user-friendly, simple, and trade facilitative for businesses,” the statement said.

The review will make the agreement modern with contemporary trade facilitative practices, and streamlined customs and regulatory procedures, it added.

Goyal highlighted that the pact has to be mutually beneficial and a win-win for all sides.

He also expressed the need to strengthen rules of origin provisions, work towards removal of non-tariff barriers and provide better market access to Indian businesses.

Goyal and Tran Tuan Anh, Minister of Industry and Trade of Vietnam, co-chaired the consultations.

It was attended by trade ministers of all 10 ASEAN countries — Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.

The Association of Southeast Asian Nations (ASEAN)-India trade in goods agreement was signed on August 13, 2009 and came into force on January 1, 2010.

- Advertisement -

Latest article

Chart Of The Day: Facebook Headed Higher On Bullish Fundamentals, Technicals

Facebook (NASDAQ:FB) shares surged on Friday, gaining more than 5% for the day. There were two reasons for that dynamic move. First, Credit Suisse raised...

Evandro e Bruno vencem marroquinos no vôlei de praia; Alison e Álvaro Filho são derrotados

Carteiras Recomendadas7 minutos atrás (27.07.2021 08:36) © Reuters. Evandro e Bruno Schmidt durante torneio de vôlei de praia da Tóquio 2020 27/07/2021 REUTERS/Pilar Olivares (Reuters) - Duas...

London judges agree to reopen $7 billion Brazil dam lawsuit against BHP

Economy7 minutes ago (Jul 27, 2021 07:36AM ET) (C) Reuters. FILE PHOTO: The debris of the municipal school of Bento Rodrigues district, which was covered...

Lucro da ADM dispara no 2º tri com forte demanda por produtos agrícolas

Ações8 minutos atrás (27.07.2021 08:36) © Reuters. Marca da ADM 3/05/2018 REUTERS/Brendan McDermid (Reuters) - A Archer Daniels Midland reportou nesta terça-feira um aumento de quase 52% em...

Earnings Showdown: Microsoft Vs. Apple

Hardware vs. Software Apple - chip shortage and Delta could spoil the party Microsoft - can it dominate the 'intelligent' cloud? Both Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT)...