India and Asean sign trade deal

Published by rudy Date posted on August 15, 2009

India and the 10-country South East Asian bloc Asean have signed a free trade agreement after more than six years of talks.

Tariffs on electronics, chemicals, machinery and textiles will be reduced and eventually eliminated.

These products make up 80% of goods traded between India and Asean.

But India has been allowed to continue protecting its farm sector, and has excluded 489 products, including rubber, from the trade deal.

Computer software and information technology are also exempt.

A smaller list of products, described as “highly sensitive”, such as palm oil and coffee, will see tariffs reduced over about 10 years, but only modestly.

‘Win-win’

The deal was signed in Bangkok at a meeting of economic ministers of the Association of South East Asian Nations – made up of Brunei, Burma, Cambodia, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand and Vietnam.

Asean is India’s fourth-largest trading partner. The value of trade between the two was $47bn (£28bn) in 2008.

Secretary-general of the Federation of Indian Chambers of Commerce and Industry, Amit Mitra, said the agreement, which comes into effect form January next year, was “a win-win for both sides”.

“Our minds have met. Of course, a few will lose, but many more will gain.” –BBC News

April 2025

World Day for Safety and Health at Work
“Safety and health at work every day!”

Invoke Article 33 of the ILO constitution
against the military junta in Myanmar to carry out the 2021 ILO Commission of Inquiry recommendations against serious violations of Forced Labour and Freedom of Association protocols.
Accept National Unity Government
(NUG) of Myanmar.
Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideos

Time to support & empower survivors. Time to spark a global conversation. Time for #GenerationEquality to #orangetheworld!

Monthly Observances:

March – Women’s Role in History Month
April – Month of Planet Earth

Weekly Observances:
Last Week of March: Protection and Gender Fair Treatment of the Girl Child Week
Last Week of April – World Immunization Week

Daily Observances:
Mar 25 – International Day of Remembrance of the Victims of Slavery and the Transallantic Slave Trade
Mar 27– Earth Hour
Apr 21 – Civil Service Day
Apr 22 – World Earth Day
Apr 28 – World Day for Safety and Health at Work

Trade Union Solidarity Campaigns

No to Trafficking

Jobs! Jobs! Jobs!

Categories