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India-Thailand free trade accord from September 1

By Our Special Correspondent

CHENNAI, JULY 9. The India - Thailand Free Trade Agreement (FTA) will come into force from September 1, 2004, the Thai Minister for Science and Technology, Korn Thapparansi, said here today at a meeting organised by the Federation of Indian Chambers of Commerce and Industry(FICCI).

Eightytwo of the 84 items identified in the "early harvest scheme" of the FTA, signed in October last, will be covered by the agreement.

Two chemical items have been removed from the list, according to Thai officials.

"India has been quite flexible in the matter of value addition or local content," said the Thailand Vice-Minister of Commerce, Panpree Bahiddha Nukara.

The identified items would enjoy a 50 per cent concessional tariff over normal one in both countries from this September 1, to September 1, 2005 , 75 per cent concessional tariff till September 2006 and to nil duty thereafter, Mr.Nukara said.

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