February 7: The ASEAN-India Free Trade Area (AIFTA) is a free trade area made up of ten member states of the Association of South Asian Nations (ASEAN) and India. The initial framework agreement was signed on 8 October 2003 in Bali, Indonesia, and the final agreement was signed on 13 August 2009. The Free Trade Area came into force on January 1, 2010. India`s trade with ASEAN focuses mainly on Singapore, Malaysia and Thailand. Economic ties and prosperity between the two regions will flourish following the recent ASEAN-India Summit in New Delhi on 20-21 December 2012 and the subsequent adoption of the Free Trade Agreement on Services and Investment. Combined with the continued development of ASEAN as a regional economic power, these figures, while still somewhat small, are on the rise thanks to the free trade agreements between India and ASEAN. For a more detailed description of trade flows between India and ASEAN, see the table below: since the early 2000s, India has experienced a growing trade deficit with ASEAN, with imports exceeding exports by more than $6 billion in 2007-08.  There are concerns that gradual liberalization of tariffs and increased imports to India could threaten several economic sectors, including the plantation sector, some processing industries and the maritime industry.  As a dominant exporter of light industrial products, ASEAN has competitive tariffs that prevent India from accessing the industrial market in ASEAN countries.  Relations between India and Cambodia resumed in 1981, when India officially recognized the new Cambodian government and opened an embassy in Phnom Penh. At present, efforts have been made to strengthen their cooperation through institutional capacity building, human resource development, infrastructure development, security and defence. In addition, India and Cambodia have strengthened bilateral cooperation by strengthening interactions in regional and international for a. The ASEAN-India Services Trade Agreement (AITISA) was signed on 13 November 2014 on the sidelines of the 25th ASEAN Summit in Nay Pyi Taw, Myanmar.
What Is The Use Of Free Trade Agreement
21 December 2020
Who Does Nz Have Free Trade Agreements With
21 December 2020
When Was The Asean-India Free Trade Agreement Signed