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India-ASEAN FTA likely by November
Sandeep Joshi
NEW DELHI: Commerce Secretary G. K. Pillai on Tuesday said the India-Association of Southeast Asian Nations (ASEAN) Free Trade Agreement (FTA) is likely to be signed at the forthcoming ASEAN Summit.
“The ASEAN Summit will be held at Singapore in November this year and by that time, all modalities would be worked out. The much-awaited announcement (regarding FTA) will be made then.”
“Work is on regarding finalising modalities on FTA and this is likely to be completed by September this year. We have already held several rounds of successful meetings with ASEAN members on the issue,” said Mr. Pillai.
The Commerce Secretary has just returned from Manila, where he discussed details on India-ASEAN FTA with the 10-nation organisation comprising Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam and Brunei. The proposed FTA envisages taking India’s export to ASEAN to $ 22 billion by 2012 from the current $ 8 billion.
Mr. Pillai also said the government was looking to put into place a system to facilitate exporters and importers to file documents and make payments online.
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