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It is welcome news that India has successfully concluded negotiations on a Free Trade Agreement (FTA) for goods with the 10-member Association of South-East Asian Nations (Asean).

The almost six years of talks on the agreement clearly shows the importance and the weight of the trade pact.

The free trade agreement will pave the way for duty-free imports of a range of products such as textiles, electronics goods and chemicals.

In the process, it will add $12 billion by 2010 to the trade among the participating nations.

The fact that the volume of trade between China and the economic bloc (Asean) soared to over $171 billion last year due to such a trade deal will only suppress any opposition to the agreement.

On the whole, the Indo-Asean FTA is complete and comprehensive.

It will surely contribute to the economic success of both sides.

P. S. Saravana Durai e-mail

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