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Showing posts from December 27, 2009

Free trade with Aseans begins

Thursday, December 31, 2009
India enters free trade with Asean countries
India enters free trade with Asean countries- South Korea, Singapore, Thailand and Malaysia country's market-opening pacts with three of the 10 members of the Association of Southeast Asian Nations (Asean) and South Korea will be operational from Friday.The remaining seven Asean members will take a few more months to get the India-Asean trade pact, which needs to be "internally approved or ratified by their parliaments," an official said. Indian exports to Singapore, Thailand and Malaysia accounting for over 90 per cent of the India-Asean USD 44-billion trade, would also be given easy access on about 4,000 tariff items.Under the Indo-Korean Comprehensive Economic Partnership Agreement (CEPA), which includes services, Indian professionals from as many as 163 sectors, including IT, English teaching, consultancy and engineering, would be eligible for temporary visas up to one year in Korea. Under this …