ASEAN-India free trade agreement depends on Thailand
January 26th, 2009 - 3:56 pm ICT by IANSBangkok, Jan 26 (DPA) A free trade agreement (FTA) between India and South-East Asia will be signed at the upcoming summit of the Association of South-East Asian Nations (ASEAN) if the Thai parliament approves the pact, officials said Monday.”The ASEAN economic ministers have invited the Indian commerce minister to sign the FTA Feb 26,” said Tharit Charungvat, Thai foreign ministry spokesman.
“But the FTA is still subject to the approval of the Thai parliament as well,” Tharit added. Under Thailand’s new 2007 constitution all international agreements must first be approved by the parliament before going into effect.
Thai parliament was meeting Monday to discuss the FTA.
“All the other members of ASEAN have already agreed to the FTA,” Tharit said.
If approved by the Thai parliament, the trade pact with India will be signed the day before the 14th ASEAN Summit scheduled Feb 27 to March 1 at Hua Hin beach resort, 130 km south-west of Bangkok.
The agreement would reduce Indian tariffs to zero on 3,666 imported items from South-East Asia by the end of 2012.
ASEAN-made goods expected to gain from zero tariff include refrigerators, fans, air-conditioner parts, jewellery and ornamental goods, rubber products and plastic resins.
ASEAN comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.
A partial trade agreement that has already gone in to effect between Thailand and India covers only 82 items.
- Asean-India free trade agreement expected for summit - Jan 25, 2009
- India may sign free trade agreement with ASEAN - Jan 19, 2009
- Manmohan Singh to attend ASEAN, East Asia Summits in Thailand from Friday - Oct 22, 2009
- India's 'Look East' policy has strategic goals (Comment) - Oct 26, 2010
- India to enhance ties with East Asia (Lead) - Oct 23, 2009
- Thai PM to be chief guest on India's Republic Day - Dec 02, 2011
- India grants 'Market Economy' status to Vietnam - Oct 25, 2009
- Manmohan leaves for Thailand Friday, likely to meet China PM - Oct 21, 2009
- India, Asean must move beyond free trade in goods: Delhi Dialogue - Feb 14, 2012
- Free trade with Asean to open up bigger prospects - May 15, 2011
- The sky is the limit for ASEAN-India cooperation (Comment) - Oct 27, 2010
- India hoping to take 'Look East' policy to new level : PM - Oct 23, 2009
- India to speed up trade talks with EU, Japan and Malaysia - Aug 25, 2010
- India to negotiate free trade agreements with Indonesia, Thailand soon - Oct 28, 2010
- South Korea, Turkey agree on free trade deal - Mar 26, 2012
Tags: asean summit, association of south east asian nations, commerce minister, east asian nations, economic ministers, foreign ministry spokesman, free trade agreement, fta, hua hin beach, indian commerce, international agreements, members of asean, plastic resins, rubber products, south east asia, south east asian, thai parliament, thailand bangkok, trade pact, zero tariff