India-Asean FTA to boost thai exports

By Petchanet Pratruangkrai
The Nation
Published on August 12, 2008

Thailand will gain greater market access to India when the Asean-India freetrade agreement is finalised.

The pact will be signed during the Asean Leaders' Summit in Bangkok later this year, while the Asean Economic Ministers' Meeting will next month announce the successful conclusion of nego¬tiations after more than five years.

Chutima Bunyapraphasara, directorgeneral of the Trade Negotiations Department, said Asean's meeting of senior officials in Brunei reached a concrete agree¬ment that should ensure the pact will be effective at the start of next year.

Under the agreement, Asean and India are committed to liber¬alising trade in goods. Thailand currently enjoys zero tariffs for only 82 items exported to India.

About 80 per cent of trade in agricultural and industrial prod¬ucts will be gradually brought down to zero tariffs by 2010, while tariffs for another 10 per cent will be elim¬inated in 2015. The remaining 10 per cent comprises sensitive items that will need to be renegotiated.

Thailand will allow more mar¬ket access for India's copper, cutting the import tariff to zero in 2015.

Chutima said trade between India and Asean should increase significantly from the current US$28 billion (Bt946 billion) with lower tariff barriers.

Officials of both sides should complete details of the agreement before the Asean Leaders' Summit to ensure the pact will be imple¬mented early next year, she added.

Last year, trade between Asean and India was worth $28.7 billion, of which exports from Thailand to India were valued at $4.73 billion. India is Asean's 10thlargest trader and the 17thlargest trader with Thailand.

{literal}

{/literal}

Saha-Union units to shed loss-maker
Saha-Union's two wholly owned subsidiaries in China will sell their shares in Danyang-Union....
Good brands need to be experienced
Doing business nowadays places emphasis on not only product and service development, but also image creation.

{literal} {/literal}

India-Asean FTA to boost thai exports

Thailand will gain greater market access to India when the Asean-India freetrade agreement is finalised.

OTHER BUSINESS

Saha-Union units to shed loss-maker

Good brands need to be experienced

Top Stories