What happened to India-ASEAN Free Trade Agreement?
THE FTA was to take effect from today, but there is absolutely no news from CBEC or the Commerce Department. Has the CBEC issued any notifications?
The Malaysian Ministry of International Trade and Industry, yesterday announced that it will implement the FTA from today. The Ministry said, “For ASEAN and India, the FTA would open the market of 1.7 billion population. In this regard, the Malaysian business community is encouraged to seize each benefit and facility provided, including the abolition and reduction of tariffs on goods, the opening of market for services and the relaxation of investment conditions as well as measures for the implementation of trade and economic collaborations. ”
It seems Malaysia is the only country which has got the agreement ratified so far.
Even in respect of Malaysia, there seems to be no notification from CBEC.