The next round of negotiations for India-Thailand FTA will take place on July 10-12. Both sides are yet to give their approval on the text of sanitary and phytosanitary measures (SPS), a WTO agreement on how governments can ensure food safety, animal and plant health.
??The prime ministers of India and Thailand have set a target to complete negotiations on the Comprehensive Free Trade Agreement (FTA) by October, which is achievable if both sides agree on the SPS text and technical barriers to trade,?? India’s ambassador to Thailand Anil Wadhwa said.
During a recent visit by Prime Minister Manmohan Singh to Thailand, the FTA issue was taken up for discussion. The leaders of the two countries called for an acceleration in negotiations to conclude the trade agreement. They have already held 26 rounds of talks, with the last one taking place in New Delhi in November.
The comprehensive FTA covers goods, services and investment, as well as issues of technical barriers to trade, investment, sanitary and related items.
On investment, India does not need to negotiate much since it already signed the Asean-India FTA.
??For the India-Thailand FTA, we can borrow the provisions relating to investment from there. On the services sector, both countries have strong interests as we require more liberalisation and freer flow of professional workers who can go to work in each other?s country,?? said officials.
??This will prepare ourselves well for the Asean Economic Community in 2015.??
Asean leaders are aiming to create an economic community by 2015, but achieving the target requires cooperation and coordination among the ten member economies.
