India, Asean trade agreement review faces delays
2 days, 12 hours ago

India, Asean trade agreement review faces delays

Live Mint  

The planned makeover of India's 14-year-old goods trade pact with Asean may take longer than expected as members of New Delhi's fourth largest trading partner press to negotiate tariffs individually, two people aware of the development said. The review, which was expected to be finalized at next month's Jakarta meeting of India and the Association of South East Asian Nations, has stalled since India's offer of a unified duty structure does not find favour among Asean members, two people aware of the development said. While the trade agreement has been instrumental in boosting regional economic ties, differing priorities and approaches between India and Asean members could prolong the review, leaving the future of the pact uncertain. The Asean bloc comprises Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam, but India’s trade with the bloc remains concentrated in five key countries: Indonesia, Singapore, Malaysia, Thailand and Vietnam.

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History of this topic

India strongly pushing for review of Asean-India trade pact, says Jaishankar
1 month ago

India strongly pushing for review of Asean-India trade pact, says Jaishankar

Hindustan Times  

NEW DELHI: India has been pressing the Association of Southeast Asian Nations for the review of the Asean-India Trade in Goods Agreement because of concerns about its impact on the development of domestic manufacturing, external affairs minister S Jaishankar said on Thursday. External affairs minister S Jaishankar addresses the ASSOCHAM Bharat@100 Summit Fireside Chat on 'Enhancing Bharat’s global partnerships' in …

India trade deficit with Asian peers rising faster
1 month, 3 weeks ago

India trade deficit with Asian peers rising faster

Deccan Chronicle  

Chennai: India’s trade deficit with some of the trading blocs and economies in Asia is rising faster than its global deficit growth. From 2007-09 to 2020-22, the trade deficit grew by 302.9 per cent with ASEAN, 164 per cent with South Korea, and 138 per cent with Japan, compared to 81.2 per cent increase in the global deficit. Even in …

India Seeks Tariff Flexibility in ASEAN FTA Review
1 month, 4 weeks ago

India Seeks Tariff Flexibility in ASEAN FTA Review

Deccan Chronicle  

New Delhi: India may seek flexibility in the existing tariff concessions in sectors, which are impacted by significant increase in imports, under the free trade agreement review with the 10-nation Association of Southeast Asian Nations, an official said. Eight sub-committees have been constituted under the India-Asean Free Trade Agreement Joint Committee for undertaking negotiations on different areas related to the …

India should reconsider its rejection of the RCEP trade bloc
1 month, 4 weeks ago

India should reconsider its rejection of the RCEP trade bloc

Live Mint  

Five years ago, on a November morning in Bangkok, just on the verge of signing the Regional Comprehensive Economic Partnership agreement, India abruptly walked out of it. India’s RCEP participation should be based on a broad set of metrics—not merely the trade deficit, but also investment inflows, employment creation and participation in new regional value chains. A 2022 assessment by …

Piyush Goyal to push for early review of trade deal with ASEAN
3 months, 3 weeks ago

Piyush Goyal to push for early review of trade deal with ASEAN

Hindustan Times  

Union commerce minister Piyush Goyal will push for expeditious review of the India-Asean trade agreement during his Laos visit this weekend as New Delhi is keen to plug holes in the pact by 2025, which was signed by the United Progressive Alliance in August 2009, two people aware of the development said. The Prime Minister Narendra Modi-led government decided to …

India's trade trajectory: FTAs and beyond
1 year, 1 month ago

India's trade trajectory: FTAs and beyond

Live Mint  

India has been refining its global trade strategy, emphasizing a fresh outlook on Free Trade Agreements. India's readiness to face these emerging challenges will determine how well it can fulfil its ambitions of becoming an export-oriented manufacturing hub Not so long ago, India embarked on a journey to strengthen its trade relations with several nations, forging FTAs that promised mutual …

PM Modi attends ASEAN-India Summit in Jakarta: Why this grouping matters
1 year, 4 months ago

PM Modi attends ASEAN-India Summit in Jakarta: Why this grouping matters

Firstpost  

PM Narendra Modi called the ASEAN bloc the ‘central point’ of India’s Act East Policy at the ASEAN-India Summit in Jakarta. After attending the East Asia Summit later, he will fly back to Delhi for the G20 Summit Prime Minister Narendra Modi said ASEAN is the “central point” of India’s Act East Policy. Attending the 20th ASEAN-India Summit in Indonesia’s …

Japan, ASEAN, and ‘De-risking’ Through Free Trade
1 year, 4 months ago

Japan, ASEAN, and ‘De-risking’ Through Free Trade

The Diplomat  

This year is the 50th anniversary of ASEAN-Japan relations, which have been marked by a growing interdependence. Another factor, however, is ASEAN’s stance of constantly pursuing free trade, such as promoting trade liberalization within the region and sublimating it into the ASEAN Economic Community. Some countries, particularly advanced economies, have shown signs of “trade agreement fatigue.” Yet ASEAN has managed …

India, Asean Agree To Conclude Negotiation For FTA Review In 2025
1 year, 4 months ago

India, Asean Agree To Conclude Negotiation For FTA Review In 2025

ABP News  

India and the ten-bloc Asean have agreed to fast track the negotiations for the review of the existing free trade agreement in goods between the two regions and conclude the talks in 2025, stated an official statement on Monday. The main agenda of this year’s meeting was a timely review of the ASEAN-India Trade in Goods Agreement which was signed …

India, ASEAN agree to review FTA by 2025
1 year, 4 months ago

India, ASEAN agree to review FTA by 2025

The Hindu  

India and the ASEAN countries reached an agreement on Monday to review their free trade pact for goods and set a 2025 goalpost for concluding the review aimed at addressing the “asymmetry” in bilateral trade, the Commerce Ministry said. A Joint Committee of the ASEAN-India Trade in Goods Agreement, signed in 2009, deliberated on the roadmap for the review of …

India-ASEAN trade deal ill conceived: Goyal
1 year, 5 months ago

India-ASEAN trade deal ill conceived: Goyal

Live Mint  

India-ASEAN trade deal signed under the UPA era is one of the most ill-conceived deals, commerce minister Piyush Goyal said on Thursday at an industry event. India mostly imports capital goods, raw materials and intermediates from Asean, the tariff concessions under the free trade agreements have also been advantageous to many sectors and adversely impacted domestic companies, especially chemicals and …

Reactivating the Asean-India partnership through an FTA
1 year, 6 months ago

Reactivating the Asean-India partnership through an FTA

Hindustan Times  

One of India’s finest Prime Ministers Atal Bihari Vajpayee is remembered for his leadership in shaping India’s engagements with the Southeast Asia. India’s trade balance with ASEAN has deteriorated after the implementation of the FTA. India’s trade increased significantly with rest of the world and also with Asean, and the trends show an almost similar cycle and movement. Second, India’s …

India-ASEAN nations to enhance cooperation against terrorism
2 years, 1 month ago

India-ASEAN nations to enhance cooperation against terrorism

Deccan Chronicle  

NEW DELHI: With an eye on the growing Chinese military and economic assertiveness in the region, India and the 10 members of the Asean on Saturday decided to establish a comprehensive strategic partnership and enhance cooperation against terrorism. At the 19th Asean-India Summit in the Cambodian capital of Phnom Penh, that was attended by Vice-President Jagdeep Dhankhar on Saturday, India …

India must find its way back into trade arrangements
3 years, 2 months ago

India must find its way back into trade arrangements

Hindustan Times  

India and its neighbours have been hesitant to embrace trade as a core element in development. As India watches, Southeast Asian countries are signing free trade agreements, improving market access and creating conditions for deepening their already strong integration with global value chains. Some of these trade initiatives include the Comprehensive and Progressive Agreement for Trans-Pacific Partnership covering Pacific-rim countries; …

Piyush Goyal pushes for ASEAN FTA renegotiation
3 years, 3 months ago

Piyush Goyal pushes for ASEAN FTA renegotiation

The Hindu  

Commerce and Industry Minister Piyush Goyal called for a renegotiation of the India-ASEAN free trade agreement, to prevent its misuse by ‘third parties’ and remove trade restrictions as well as non-tariff barriers that he said have hurt Indian exports disproportionately since the pact was operationalised in 2010. “India is currently witnessing exponential growth in imports from the ASEAN region, while …

India, UK eye interim pact to help clinch major trade deal
3 years, 7 months ago

India, UK eye interim pact to help clinch major trade deal

Live Mint  

India and the UK are intensifying talks to remove non-tariff barriers and foster greater market access as they work to stitch together the South Asian nation’s first major free trade pact in a decade. The two countries have zeroed in on a list of achievable items that would help the UK showcase the benefits of leaving the European Union while …

Patience please: India’s ASEAN journey has much further to go
3 years, 10 months ago

Patience please: India’s ASEAN journey has much further to go

Live Mint  

Very often, especially after India’s recent refusal to join the Regional Comprehensive Economic Partnership Agreement, we hear that “the ASEAN-India FTA is not good for India”. Bilateral trade between ASEAN and India presently accounts for almost 11% of India’s global trade, up marginally by 1% from 2010-11 to 2019-20. If we add numbers for China, Japan and Korea, then countries …

China, ASEAN, other Asian nations sign world's biggest trade deal, India withdrew last year
4 years, 1 month ago

China, ASEAN, other Asian nations sign world's biggest trade deal, India withdrew last year

India TV News  

China and 14 other Asian countries have agreed to form the world's largest free-trade bloc with nearly a third of all economic activity. The Regional Comprehensive Economic Partnership, or RCEP, was signed virtually on Sunday on the sidelines of the annual summit of the 10-nation Association of Southeast Asian Nations. "RCEP will soon be ratified by signatory countries and take …

India and ASEAN to expand trade despite RCEP walkout
4 years, 1 month ago

India and ASEAN to expand trade despite RCEP walkout

The Hindu  

November 12, 2020 05:35 pm | Updated 09:45 pm IST - New Delhi India and ASEAN countries said they would explore ways to increase trade between them despite India’s exit from the 15-nation Regional Comprehensive Economic Partnership agreement. The RCEP free trade agreement, which India walked out from a year ago, is expected to be signed on November 15th, between …

India Engaging with ASEAN to Review Free Trade Agreements, Piyush Goyal Informs Parliament
4 years, 3 months ago

India Engaging with ASEAN to Review Free Trade Agreements, Piyush Goyal Informs Parliament

News 18  

India is engaging with the 10-member ASEAN to review the free trade agreement, Parliament was informed on Friday. In a written reply in the Rajya Sabha, Commerce and Industry Minister Piyush Goyal said in the India-ASEAN Economic Ministers Consultations held on August 29, both sides instructed the senior officials to engage to determine the scope of the review. Free trade …

ASEAN Secretariat invites India for RCEP meeting next month in Bali, govt yet to decide on participation
4 years, 11 months ago

ASEAN Secretariat invites India for RCEP meeting next month in Bali, govt yet to decide on participation

Firstpost  

The RCEP, comprising 10-member ASEAN bloc and six other countries India, China, Japan, South Korea, Australia and New Zealand, is engaged in negotiations for a free-trade pact. New Delhi: The ASEAN Secretariat has invited India to participate in a meeting called in Bali on 3 and 4 February on RCEP agreement to sort out concerns of New Delhi, an official …

The China factor in India’s RCEP move
5 years, 2 months ago

The China factor in India’s RCEP move

The Hindu  

Prime Minister Narendra Modi’s ASEAN sojourn this year will be remembered for India finally rejecting the Regional Comprehensive Economic Partnership trade deal. Apart from the 10 member states of the Association of Southeast Asian Nations, the mega deal was to include the bloc’s six free trade partners — China, India, South Korea, Japan, New Zealand and Australia. In his speech …

RCEP next steps: on India's free trade agreement
5 years, 6 months ago

RCEP next steps: on India's free trade agreement

The Hindu  

Leaders of the 10-member Association of South East Asian Nations have resoundingly committed to conclude negotiations for the Regional Comprehensive Economic Partnership free trade agreement by the end of 2019. RCEP includes ASEAN’s FTA partners — India, China, Japan, South Korea, Australia and New Zealand — and the FTA would encompass 40% of all global trade among economies that make …

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