Negotiations on the free trade agreement between India and the 10-member Asean are likely to conclude by the end of September 2007. |
"We hope to conclude the negotiations by September and an announcement is likely during the Asean summit in the third week of November at Singapore," Commerce Secretary Gopal K Pillai said on the sidelines of a CII conference today. |
Pillai added the negotiations were at an advanced stage. |
Meanwhile, Ong Keng Yong, secretary-general of the Asean said in Mainila, "We're hoping to have some agreement for leaders at this coming summit in Singapore. It's not easy, because of the gap that's still there, but we hope to get some political momentum." |
Asean officials have been maintaining that India needs to take out petroleum products from the negative list of goods on which tariffs will not be eliminated. |
Negotiators of both parties are also trying to arrive at a consensus on the tariff elimination status of palm oil, coffee, tea and pepper, which are vital for the industry in India. |