Indian Trade with ASEAN Countries Growing Steadily

Tuesday August 13, 2013: While Indian Trade with ASEAN countries have grown steadily in the last three years- accounting for more than 10% of India’s total exports with these countries in these three years-the figures are particularly impressive for the countries with which India has got into Trade Agreements like CECA, FTA, PTA etc. For example, Singapore-with which India have a Comprehensive Economic Cooperation Agreement (CECA)- accounted for USD 9,825.44 millions, USD 16,857.77 millions and USD 13,608.72 millions for the years 2010-11, 2011-12 and 2012-13 respectively in exports from India.

ASEAN and India has set bilateral trade target of US$100 billion by 2015.  The bilateral trade target with Indonesia, Thailand, Myanmar and Vietnam is US $25 billion, US$13.4 billion, US$ 3 billion and US$ 7 billion respectively.

Giving this information in the Lok Sabha on Monday, the Minister of State in the Ministry of Commerce and Industry Dr. D. Purandeswari also remarked that It is the constant endeavour of the Government of India to enhance trade with our trade partners for mutual benefit.  In this context, India has taken various initiatives like Comprehensive Economic Cooperation Agreements (CECA), Free Trade Agreements (FTA), Preferential Trade Agreements (PTA), Agreement on Trade in services, Agreement on Investment and South Asian Free Trade Area (SAFTA) etc.

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