September 1, 2012 1:56 PM

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ASEAN to widen free trade base

India and 10-member ASEAN countries have agreed to widen the base of free trade agreement between them by including services and investments. Commerce and Industry minister Anand Sharma, who was in Siem Reap, Cambodia, to attend the 10th ASEAN-India Economic Ministers Consultations, reviewed the progress of talks with his ASEAN counterparts. An official release said, the ministers agreed to intensify negotiations towards conclusion of the ASEAN-India Trade in services and investment agreement. AIR correspondent reports India would be hosting a meeting of the Working Group on services and investment in the second half of September to conclude negotiation before the ASEAN-India Commemorative Summit in December in New Delhi. Both the sides have already operationalised free trade pact in goods in January last year. Both the sides are intensely engaged to include services and investments in the Free Trade Agreement.Since 2011, bilateral trade has increased by 43 per cent to over 79 billion US Dollars. India is the sixth largest trading partner of ASEAN.

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