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India-ASEAN agreed to sign FTA in Dec
Oct 23, 2013

The FTA on services and investment is likely to be signed between India and ASEAN in December to boost economic and trade relations between the two blocks. India and SEAN has already signed FTA in goods movement.

What are the expected results of the FTA?

a) The agreement will boost movement of Indian professionals in the ASEAN region which include countries like Singapore, Malaysia and Indonesia.

b) It will also facilitate investments in terms of FDI in both the regions. 

c) Presently the trade between India the Association of South East Asian Nations (ASEAN) stands at about USD 76 billion in 2012-13. This agreement will boost the trade to USD 100 billion by 2015.

d) The FTA would also pave the way for discussions on a Regional Comprehensive Economic Partnership (RCEP) that ASEAN plans to seal with its six key trade partners, which include India, China, Japan, Korea, Australia and New Zealand. RCEP seeks to explore the non-tariff issues which is to do with common standards, mutual recognition of various degrees across this region

 

 


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