October 30, 2010 1:40 PM

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PM in Hanoi: Presses for early completion of FTA

Prime Minister Dr. Manmohan Singh today pressed for early completion of free trade agreement with ASEAN in Services and Investment. He also pleaded for implementation of such a pact on goods signed last year. This is to deepen and enhance economic integration with South East Asia. Speaking at the India-ASEAN Summit in Hanoi, Singh announced visa-on-arrival facility to nationals of more countries of the region from January next year. These include Cambodia, Vietnam, Philippines and Laos. He also announced a slew of other measures like setting up of a Centre for Tracking and Data Reception and an Imaging facility for the ASEAN countries. The Prime Minister said that India had undertaken programmes for a massive transformation of rural India, which is creating a huge and booming rural market for goods and services. It expects to sustain its growth rate of 9 to 10 per cent in coming year every year. This, he said will offer many opportunities for trade and investment. He said India had accorded high priority to the countries covered by the ‘Initiative for ASEAN integration’. The text of the ASEAN-India MoU for cooperation in tourism has also been finalised. Dr Singh said there had been a substantial increase in people to people exchanges, with more than three million Indian tourists visiting ASEAN because of better air connectivity between India and ASEAN. About 380 flights connect Indian and ASEAN countries every week. Dr Singh, however, said that this was well below the potential. ASEAN will soon establish an ASEAN Promotional Chapter for tourism in Mumbai. The summit is to adopt an 82 point India -ASEAN plan of action for the next five years which will lay down a road map for the future cooperation. He said there was need to speed up the pace engagement for the implementation of the ambitious action plan. Singh invited ASEAN Secretary General Dr. Surin Pitsuwan to visit India to review the mechanisms and procedures in place so that the implementation of the agreed projects can be speeded up. He said the cooperation in political and security is also progressing well, including through expanded bilateral exchanges. India looks forward to hosting the commemorative India-ASEAN Summit in India in the year 2012, he added.

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