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
June 2025
Philippine Environment Month!
“Action for Nature, for the Future!”
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 #TakePicturesVideosturesVideos
Monthly Observances:
1 Jun – World Day of Parents
5 Jun – World Environment Day
7 Jun – World Food Safety Day
8 Jun – World Oceans Day
12 Jun – World Day Against Child Labour
15 Jun – World Elder Abuse Awareness Day
16 Jun – International Day of Family Remittances
17 Jun – World Day to Combat Desertification and Drought
20 Jun – World Refugee Day
25 Jun – Day of the Seafarer
27 Jun – Micro-, Small and Medium-sized Enterprises Day
Daily Observances:
June 6: Migrant Workers Day
June 19: Filipino Youth Day
June 25: Day of the Filipino Seafarer
