India-ASEAN
Over a period of five years, India and the Association of South East Asian Nations (ASEAN) negotiated a bilateral free trade agreement — with plenty of difficulty.
Under their initial bilateral framework agreement, signed in Bali on 8 October 2003, the India-ASEAN FTA for goods was supposed to be finalised by 30 June 2005. Negotiations on services would start in 2005 and end in 2007.
After a year’s delay, discussions ground to a halt in June 2006 when India released its ’negative list’ of items to be excluded from tariff reductions — with 900 products, both industrial and agricultural, figuring on the list. (This was down from India’s initial negative list of 1,410 items.) India’s agriculture ministry, in particular, was arguing hard to exclude commodities like rubber, pepper, tea, coffee and palm oil from the deal. Rules of origin have been the other thorny issue.
Two months later, in August 2006, Delhi issued a revised list, pruned down to 560 items. However, tremendous fears about the impacts of the India-ASEAN FTA on farmers continued to rattle the discussion.
By early 2007, in the midst of the new biofuels boom, palm oil became a central blockage point as Indonesia and Malaysia, both top palm oil exporters, struggled to get India to lower its tariffs.
On 28 August 2008, a deal was finally concluded. The agreement was signed in 2009 and took effect (trade in goods) with 5 of the countries and India in January 2010, (Singapore, Malaysia, Brunei, Myanmar and Thailand). India is pushing – without much apparent process – for a services liberalization deal with the ASEAN countries.
last update: May 2012
Articles
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31-Jul-2018 The Times of India India-ASEAN FTA should be reviewed, upgraded: Vietnam
Vietnam’s Ambassador to India Ton Sinh Thanh said bilateral ties were on an upswing with several visits of dignitaries exchanged between the two countries recently and an expected "high-level" visit from India slated for later this year. -
30-Jan-2017 PTI On partnership anniversary, India-ASEAN vow to strengthen cooperation
On the occasion of 25th anniversary of country’s relationship with 10-nation ASEAN grouping, Prime Minister Narendra Modi has strongly pitched for Regional Comprehensive Economic Partnership (RCEP), saying it will further strengthen cooperation and economic integration in the region. -
15-Jan-2015 India-ASEAN services & investment FTA to be in force from July
India’s free trade agreement (FTA) in services and investments with 10-member ASEAN Grouping will come into force from July this year, paving the way for freer movement of professionals and further investment opportunities. -
23-Oct-2014 India gains little from FTAs on services front
If you thought India’s services trade agreement with Asean is going to open the doors for Indian professionals to work in the 10-member trading bloc, you may be in for a surprise. Similar agreements with Japan and South Korea — which the government said will help Indian nurses, architects and even yoga professionals have not resulted in any visas. -
3-Oct-2014 Financial Express Asean free trade agreement review shows India ’got almost nothing’
Barely a month after the government sealed the trade pact in services and investments with the Asean, an internal assessment of the deal that has been placed before the Cabinet Secretariat concludes that India has got “almost nothing” by signing the agreement. -
9-Sep-2014 Vietnam Plus ASEAN y la India firman Tratado de Libre Comercio
La India y la Asociación de Naciones del Sudeste de Asia (ASEAN) firmaron el Tratado de Libre Comercio (TLC) sobre los servicios y la inversión, informó hoy el portal digital “The Hindu”. -
9-Sep-2014 VNA Signature d’un accord de libre-échange Inde-ASEAN
L’Inde a signé avec l’ASEAN un accord de libre-échange (FTA) sur les services et l’investissement -
8-Sep-2014 PTI India signs FTA in services, investments with ASEAN
India has signed the free trade agreement (FTA) in services and investments with 10-member ASEAN, paving the way for freer movement of professionals and further opening opportunities for investments. -
27-Aug-2014 Economic Times Signing of India-ASEAN FTA likely via circulation process soon
India, which did not attend the ASEAN ministers meeting this week, will propose a circulation process for signing the India-ASEAN trade pact in services and investments. -
11-Aug-2014 PTI India, ASEAN likely to sign FTA later this month
India and the 10-nation ASEAN are likely to sign the long-delayed free trade agreement in services and investments later this month when their economic and trade ministers meet. -
8-Aug-2014 India Briefing ASEAN-India services and investment FTA inches closer to implementation
The ASEAN-India Free Trade Agreement (FTA) in Services and Investment is one step closer to implementation following approval by Thailand’s Ministry of Commerce to accept the terms outlined in the region-wide agreement. -
30-Jul-2014 First Biz UPA may have left another can of worms in Anand Sharma’s free trade agreements
One of the most serious long-term damages done by any ministry under the UPA — in India — was commerce under Anand Sharma. -
4-Jul-2014 Hindu Business Line India, Malaysia step up palm oil trade
The Malaysia-India Comprehensive Economic Cooperation Agreement is bolstering Malaysian palm oil imports by India -
6-Mar-2014 Process to sign FTA with ASEAN completed: Salman Khurshid
India has completed the internal process for signing the much-waited free trade agreement in services and investments with ASEAN which is set to significantly boost its economic engagement with the 10-nation grouping. -
3-Feb-2014 The Nation Gold may be excluded from free-trade agreement with India
India is considering withdrawing some products from the Free-Trade Agreement (FTA) with Thailand after facing a huge trade deficit, with gold likely to be excluded from the pact. -
17-Nov-2013 Business Standard Now, India eyeing Mekong-India Economic Corridor
The idea of a Mekong-India Economic Corridor — a network of land and sea infrastructure connecting India, Cambodia, Laos, Myanmar, Thailand and Vietnam — is gaining traction with the upcoming signing of the India-ASEAN services and investment deal. -
2-Nov-2013 Economic Times India Inc unable to reap benefits of Goods FTA with ASEAN: FICCI
Indian companies have been unable to capitalise on potential benefits arising out of the free trade agreement on "goods" between India and ASEAN, industry lobby Ficci has found. -
7-Oct-2013 Vancouver Desi India-ASEAN trade pact on services by year-end
India and the 10-nation ASEAN are set to formally sign a free trade agreement on services and investments by the end of 2013 and implement the ambitious agreement by July 2014, a top official said Monday. -
9-Sep-2013 Economic Times India-Thailand free trade agreement talks move ahead
Thailand has indicated softening of stance on some of the issues in the freetrade agreement it is negotiating with India, bringing the pact closer to reality after more than 10 years of talks. -
19-Jul-2013 Economic Times India-Asean FTA falters just before finalization over services pact
Issues related to movement of professionals under mode 4 and mutual recognition of qualification in medical and education are said to be the main roadblocks.
