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RCEP PACT TO SOUR INDIA-ASEAN TRADE TO $200 BILLION BY 2022

A top government official in the External Affairs Ministry, Anil Wadhwa, said the RCEP negotiations that are likely to be concluded later this year boosts trade between India-ASEAN to USD200 billion by 2022.

The India-ASEAN FTA signed for implementation in 2009 has translated significant increase in bilateral trade from under USD 44 billion in 2009/2010 to over USD 74 billion in 2013-14.

Addressing the Delhi Dialogue at New Delhi, Deputy Secretary General, ASEANSecretariat Dr AKP Mochtan reiterate that an successful RCEP will further boost trade between this two jurisdictions.

Wadhwa further highlighted that signing agreements on Trade in Services and Investment last September and its coming into force this year could boost economic engagement. He also informed that drawing of a vision document for proposals for future directions of trade between India-ASEAN is in its final stages.

 

The gLAWcal Team

Wednesday, 11 March 2015

(Source: Economic Times)

This news has been realized by gLAWcal—Global Law Initiatives for Sustainable Development in collaboration with the University Institute of European Studies (IUSE) in Turin, Italy and the University of Piemonte Orientale, Novara, Italy which are both beneficiaries of the European Union Research Executive Agency IRSES Project “Liberalism in Between Europe And China” (LIBEAC) coordinated by Aix-Marseille University (CEPERC). This work has been realized in the framework of Workpackages 4, coordinated by University Institute of European Studies (IUSE) in Turin, Italy.