The Hindu Business Line : Kerala CII session on `negative list items for FTA'

THE Confederation of Indian Industry (CII), Kerala, in association with the Union Ministry of Commerce and Industry, is organising a session of `Finalising India's negative list for BIMSTEC FTA' here at Hotel Avenue Centre on May 10.

The BIMSTEC (Bay of Bengal Initiative for Multi-sectoral Technical and Economic Co-operation) initiative involves five members of SAARC (India, Bangladesh, Bhutan, Nepal and Sri Lanka) and two members of ASEAN (Thailand and Myanmar).

BIMSTEC is visualised as a `bridging link' between two major regional groupings such as ASEAN and SAARC.

The framework agreement on BIMSTEC FTA includes provisions for negotiations on FTA in goods, services and investment.

The agreement also provides for having products in the `negative list' and the number of such products would be subject to a maximum ceiling to be mutually agreed among the parties.

The negotiations will be held to finalise the negative list items on which no tariff concessions will be exchanged to begin with. The Ministry of Commerce and Industry has identified list of 1,761 items. Member countries have constituted the Trade Negotiating Committee (TNC) to carry forward the programme as stipulated in the agreement. The TNC is currently discussing the negative lists under the FTA in goods.

A press statement issued here said the objective of the session is to have consultations with all domestic stakeholders in finalising negative list for FTA. Mr R.S.Ratna, Director and Ms Geetu Sidhu, Deputy Director, Regional and Multilateral Trade Relations Divisions, will interact with the participants.

The session would focus on sectors such as seafood, spices, ayurvedic products, coffee, tea, vanilla, natural rubber and rubber products, coir, coconut, cashew and rice.

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