05/09/2014 15:39 GMT+7 Email Print Like 0

India to sign FTAs on services, investment with ASEAN soon

New Delhi , September 5 (VNA) – India has received documents of the Free Trade Agreements (FTAs) on services and investment with ASEAN, and will sign the pacts soon, said Indian Commerce and Industry Secretary Rajeev Kher.

The Press Trust of India (PTI) news agency quoted Rajeev Kher as saying that the signing of the pacts was scheduled during the India-ASEAN Economic Ministers meeting in Myanmar last week. However, the meeting was postponed as Indian Commerce and Industry Minister Nirmala Sitharaman was unable to attend due to domestic issues.

The two sides concluded the negotiations for the agreements in 2012.

Once in effect, the FTAs will help boost Indian investors’ activities in the ASEAN region, as well as facilitate more investments in the services sector.

Two-way trade between India and ASEAN stood at about 76 billion USD in 2012-13. Both sides aim to increase it to 100 billion USD by 2015.

ASEAN groups Brunei , Cambodia , Indonesia , Laos , Malaysia , Myanmar , the Philippines , Singapore , Thailand and Vietnam.
VNA/VNP