Asean India Free Trade Agreement 2019
«Over 21 sectors, the overall trade balance deteriorated in 10 to 13 sectors (reducing surpluses or increasing the deficit). Only the places where we have done better are ceramics, cement, paper, animal goods, etc. Only 10% of lines are excluded… Wanting to catch up with other countries in Thailand or Myanmar,» he said. On the other hand, India is at the end of the Asean Comprehensive Economic Cooperation Agreement to which it joined in 2010. India`s total trade deficit with Asean increased from $8 billion in 2009-10 to about $22 billion in 2018-19. Given that Indian officials estimate that some lines are used up to 5%, India strives to ensure the trade balance in key lines, such as chemistry, rubber, metals, medical instruments and gemstones and jewellery. Before the signing of the agreement, Kerala`s Chief Minister, V.S. Achuthanandan, led a delegation to the Indian Prime Minister to protest against the free trade agreement. The state of Kerala is a major exporter of domestic exports of plantation products. It is concerned that cheap imports of rubber, coffee and fish will reduce local production and ultimately harm farmers and their economies.  Kerala has already experienced a flood of its market with cheap imports under the 2006 South Asia Free Trade Agreement.
Cheap coconuts from Sri Lanka and palm oil from Malaysia have since hampered the cultivation of Kerala coconut.  Recognizing this development and recognizing the economic potential for closer ties, both sides recognized opportunities to deepen trade and investment relations and agreed to negotiate a framework agreement to pave the way for the creation of an ASEAN-India Free Trade Area (FTA).  Asean`s share of India`s total trade deficit increased from about 7% to 12% over the same period. The country also bled in its comprehensive economic partnership agreement with South Korea, where its deficit rose from $5 billion in 2009-10 to $12 billion in 2018-19. The story is similar with the Indeinem and Japanese free trade agreement called CEPA, which came into force on August 1, 2011. ASEAN-India trade increased by more than 22% per year over the 2005-2011 period. India-ASEAN trade increased by more than 37% in 1964-2002 to $79 billion, more than the $70 billion target set in 2009.  vi) The product remains under customs control of the intermediate part, including its free trade zones and customs areas authorized by customs.
The product must not be marketed or consumed in the middle part; According to a study by Niti Aayog on India`s free trade agreements, India`s trade deficit has deteriorated in sectors that account for about 75% of India`s exports to ASEAN. India`s trade deficit with ASEAN countries currently stands at about $24 billion. «FOB,» the on-board value referred to in paragraph 1 of Schedule I; 5.DESCRIPTION OF THE GOODS: The description of the goods must be sufficiently detailed for the goods to be identified by the customs officers who examine them. The manufacturer`s name must also be indicated. He added that India had recorded a trade deficit in all major trade agreements, with the exception of the South Asia Free Trade Agreement (SAFTA). Cambodian Prime Minister Hun Sen, New Zealand Prime Minister Jacinda Ardern, Indian Prime Minister Narendra Modi, Chinese Premier Li Keqiang and Thai Prime Minister Prayuth Chan-Ocha will join the third Global Regional Economic Partnership (RCEP) summit in Bangkok, Thailand, November 4, 2019.