Indonesia has reversed the heat on India in the ASEAN-India free trade agreement (FTA) negotiations. Not only is it unwilling to give as much market access to India as has been accorded by other members, but it is also pushing New Delhi to cut import duties on crude and refined palm oil much below the levels negotiated by the two sides. Indonesia has urged India to commit to decrease import duty on refined palm oil to 30% and crude palm oil to 20%. This is much lower than the levels discussed by India with other ASEAN members. India had accorded to take on commitments to lower tariffs on refined palm oil to 51% and crude palm oil to 45%. Indonesia''s export of palm oil to India constitutes about 30% of its total exports to India.
Tuesday, May 27, 2008
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