Asean India Investment Agreement

At the 10th ASEAN-India Summit, which concluded on 20 December 2012 in New Delhi, India and ASEAN concluded negotiations on free trade agreements for services and investment. Both sides expect bilateral trade to grow to $100 billion by 2015 and $200 billion in a decade. [8] At the second ASEAN-India Summit in 2003, the ASEAN-India Framework Agreement on Comprehensive Economic Cooperation was signed by the Heads of State and Government of ASEAN and India. The framework agreement provided a solid foundation for the final establishment of an ASEAN-India Regional Trade and Investment Zone (ATI), which includes free trade agreements for goods, services and investment. The ASEAN-India Trade in Goods Agreement (TIG) was signed on 13 August 2009 to 7 August 2009 at the 7th ASEAN Minister of Economy (India Consultations) in Bangkok, Thailand. The agreement entered into force on 1 India and some ASEAN Member States are in force on 1 January 2010. The entry into force of the Agreement by other ASEAN Member States and India is the date on which the ASEAN Member State and India are ready to implement the Agreement. For Brunei Darussalam, the date of implementation of the trade agreement was 1 June 2010. Before the signing of the agreement, Kerala Chief Minister V.S. Achuthanandan led a delegation to the Indian Prime Minister to protest against the free trade agreement. The state of Kerala is an important exporter in the domestic export of plantation products. It fears that cheap imports of rubber, coffee and fish will reduce domestic production and have a negative impact on farmers and, ultimately, their economy.

[13] Kerala has already experienced a flood of its market of cheap imports under the 2006 South Asia Free Trade Agreement. Since then, Sri Lanka`s cheap coconuts and Malaysian palm oil have hampered Kerala coconut cultivation. [13] Recognizing this trend and recognizing the economic potential of closer ties, the two sides recognized the opportunities to deepen trade and investment relations and agreed to negotiate a framework agreement to pave the way for the establishment of an ASEAN-India Free Trade Area (FTA). [7] In the tourism sector, the number of visits from ASEAN to India in 2006 was 277,000, while the number of visits from India to ASEAN was 1.985 million in 2008. At the sixth ASEAN-India Summit held in Singapore on 21 November 2007, India proposed to set a target of one million tourist arrivals from ASEAN to India by 2010. The Second Meeting of ASEAN and India Tourism Ministers (ATM+India), on 25 January 1 January 2010, in Bandar Seri Begawan, responded favourably to India`s proposal to develop a tourism cooperation agreement between ASEAN and India and invited the ASEAN-India Tourism Working Group to continue the discussion and preparation of the draft agreement. The ministers also supported the establishment of the ASEAN Tourism Promotion Chapter in Mumbai, an important cooperation platform for the ASEAN National Tourism Organisation (NTOs), to market Southeast Asia to Indian consumers, while creating mutual awareness between ASEAN member states and India. The ASEAN-India Free Trade Area (AIFTA) is a free trade area between the ten member states of the Association of South Asian Nations (ASEAN) and India.

The first framework agreement was signed in Bali, Indonesia, on 8 October 2003. [1] and the final agreement was 13 August 2009 [2] The free trade area entered into force on 1 January 2010. [3] [4] India hosted the last ASEAN-India Commemorative Summit in New Delhi on January 26, 2018. . . .



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