The much-awaited India-ASEAN Free Trade Agreement (FTA) will be in place by May 2008 as substantial progress has been made in all areas, Commerce Minister Kamal Nath said on November 20. Convergence is within reach. We are in our last mile, by May 2008 we will have the FTA with ASEAN in place, he said after meeting ASEAN economic ministers this evening.
He noted that the differences pertained to only four products and three countries, but expressed confidence that these issues would be sorted out soon. Asked to comment on Indonesian Trade Minister Mari Pangestu''s statement that the 10-member bloc had put talks on hold until India came up with better offers, Nath said, everybody has some perceptions. Nath, however, noted talks had definitely not stopped as he had met Vietnam, Singapore, Malaysia this morning to talk about the FTA.
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