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High hopes for India FTA
Bangkok Post – 18 August 2008
Asean will sign the Asean-Indian free-trade agreement in December after five years of negotiation, according to Chutima Bunyapraphasara, the director-general of the Department of Trade Negotiations.
''The remaining problems over Indian tariffs on crude and palm oil from Indonesia were resolved (at recent meetings in Brunei),'' said Ms Chutima.
'' Thailand also succeeded in insisting on not adding more sensitive products, except copper on which tariffs would be reduced to zero from 1% by 2015.''
The results will be submitted to the Asean-Indian economic ministers' meeting at the end of this month for approval. The draft of the pact is expected to be finished in time for the Asean summit in Thailand in December.
Under the pact, Asean and India aim to gradually start reducing tariffs on 80% of goods in 2010. Tariffs will be phased out to zero by 2012.
Tariffs on another 10% of goods would be decreased to 5% by 2015.
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