Govt yet to take call on RCEP meeting invitation
The ASEAN Secretariat has invited India to attend the meeting to sort out its issues related to the proposed free trade deal. “India has received the invitation for the meeting. No decision has been taken on the issue,” said an official.
Working with India on pact against unilateral US Sanctions: Sergey Lavrov, Russia’s foreign minister
Against the background of the increasing...
FTAs with EU, Australia, Canada to help boost textile exports: AEPC
Free trade agreements with Australia, Canada, and the European Union will...
Russia pushes India’s entry into Eurasian Economic Union strengthening third country coop
The EAEU member states approved a document defining the strategic goals for developing the Eurasian integration until 2025, the Russian Foreign Ministry stated last week while listing its achievements for 2019. They also endorsed a concept for forming an EAEU financial common market with a view to launching it in 2025, according to the Ministry.
India-Mauritius FTA nears finalisation
Negotiations were held across several sectors including goods, services, rules of origin, technical barriers to trade and sanitary and phyto-sanitary measures, trade remedies and dispute settlement. In a free trade agreement, two trading partners cut or eliminate duties on majority of goods besides liberalising norms to promote services trade and boost investments.
China, Japan, South Korea meet on North Korea, free trade
The North has threatened to take unspecified action if that relief is not forthcoming by the end of the year. Speculation has centered on the possibility of conducting a new missile test, possibly of an intercontinental ballistic missile capable of delivering a nuclear warhead. The North has said that what "Christmas gift" it gives the United States depends on Washington's actions.
Import of wines, cars from EU may get cheaper
India has made a pitch after it decided to stay away from the RCEP agreement — the mega trade block comprising China, Japan, Korea, the Asean countries, Australia and New Zealand. After Brexit, India also proposes to push for a trade deal with the UK as it seeks greater market access for textiles and some farm products in European markets.
Liquor makers seek govt's support to increase exports
In a letter to Commerce Minister, Confederation of Indian Alcoholic Beverage Companies Director General Vinod Giri said in 2018-19, exports of alcoholic beverages stood at Rs 2,200 crore, while imports were Rs 5,400 crore. "The data clearly indicates how the trade is balanced against India," he said adding the ministry should not give major duty concessions to regions like the EU.
Prime anchor: An Amazon warehouse town dreams of a better life
Campbellsville’s warehouse was among the first of what are now an estimated 477 Amazon fulfillment centers, delivery stations and other outposts around the country. That makes Campbellsville, with 11,415 inhabitants, a case study for what may happen elsewhere as Amazon continues expanding.
Misuse of FTA for gold imports to end as govt tweaks import conditions
Gold and silver in any form, other than monetary gold and silver in any form, has been moved from free to restricted list, a government notification dated December 18 said. The imports under FTA were at a nominal duty against the 12.5% duty on gold and silver.
CII for better participation by India in trade pacts
“Globally, a large part of international trade is happening via the preferential route. To increase India’s share in value chains, diversifying our export markets and export products, the country must increase its participation in RTAs,” the CII said in a report titled ‘India’s Exports — Trend, Challenges and Future Strategy’, released on Tuesday.
Income tax cut can wait till bigger issues are resolved: CII
The government must focus on increasing infrastructure spending for growth to pick up, CII president said.
China's forex regulator vows to prevent risks, keep market stable
Participants at a meeting by the regulator on Friday called for the prevention of abnormal cross-border capital flows caused by external risks, and vowed to crack down on illegal activities in the market, according to a statement on its website.
RCEP did not adequately address India's concerns, will review ASEAN FTA: Piyush Goyal
Prime Minister Narendra Modi took the call of not joining the RCEP agreement on November 4 in Bangkok, as India's concerns were not addressed in the pact.
US wants to ensure India's data localisation plan doesn't stymie growth in transactions: Steven Mnuchin
Mnuchin also insisted that America has no problem if countries want to have local data for regulatory purposes as long as they do not eliminate it outside the country.
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