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
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
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October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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