Indian cabinet approves FTA with ASEAN

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asean-indiaThe Indian cabinet on December 19 approved a free trade agreement (FTA) in trade and services with ASEAN, Indian media reported.

The Agreement on Trade in Services and Agreement is to be signed under the Comprehensive Economic Cooperation (CECA) between India and the ASEAN. The CECA was signed in 2003.

The cabinet already approved an Agreement on Trade Goods under the CECA with ASEAN in July 2009. The agreement the cabinet approved on December 19 is now aimed at boosting the movement of Indian professionals to ASEAN’s ten member countries.

The move is seen as a counter action by India to the increasing influence of China in ASEAN. Since 2003, China has extended its partnerships with ASEAN nations in areas of trade, defense and development after it signed a strategic agreement with the Southeast Asian bloc. However, China remains the major economic power in the region and is also the largest supplier of arms to the region.

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Reading Time: 1 minute

The Indian cabinet on December 19 approved a free trade agreement (FTA) in trade and services with ASEAN, Indian media reported.

Reading Time: 1 minute

asean-indiaThe Indian cabinet on December 19 approved a free trade agreement (FTA) in trade and services with ASEAN, Indian media reported.

The Agreement on Trade in Services and Agreement is to be signed under the Comprehensive Economic Cooperation (CECA) between India and the ASEAN. The CECA was signed in 2003.

The cabinet already approved an Agreement on Trade Goods under the CECA with ASEAN in July 2009. The agreement the cabinet approved on December 19 is now aimed at boosting the movement of Indian professionals to ASEAN’s ten member countries.

The move is seen as a counter action by India to the increasing influence of China in ASEAN. Since 2003, China has extended its partnerships with ASEAN nations in areas of trade, defense and development after it signed a strategic agreement with the Southeast Asian bloc. However, China remains the major economic power in the region and is also the largest supplier of arms to the region.

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