Search Result for : India Asean Trade

The Dollar Business Bureau  Japan's exports increased at a fast pace in July, indicating a revival in demand from China, the US and Southeast Asia, though the prices rose faster compared to the volumes for several products.  Exports rose over 13% in July to 6.5 trillion yen ($59 billion) compared to a year earlier, according to a data released on Thursday.  On the other hand, the imports into the country rose 16% to 6.1 trillion yen ($55 billion), supported by an increase in the shipments of oil and coal, the data said.  This resulted in declining of trade surplus by 17% to 419 billion yen ($3.8 billion) compared to a year earlier.  “Trade actually dragged on growth in the world's third-largest economy in the April-June ...

The Dollar Business Bureau Minister of State for External Affairs Gen VK Singh said on Sunday that ASEAN (Association of South East Asian Nations) occupies a central position in the Asia-Pacific region’s “security architecture” and has the distinctive ability to reflect the greater interests of world.  From the Indian perspective, ASEAN occupied a central place in the security architecture of the Asia-Pacific region, Singh said while speaking at the 15th meeting of ASEAN-India Foreign Ministers in Manila. In the last five decades, the regional intergovernmental organisation had put behind it several post-decolonisation discussions of the region and steered away adeptly from the Cold War to enter in a new era of higher economic growth that act as an example to others, he said. “Surviving ...

The Dollar Business Bureau The deadline of closing the negotiations for the proposed Regional Comprehensive Economic Partnership (RCEP) by December this year would be missed, said Commerce and Industry Minister Nirmala Sitharaman on Wednesday.  The members of RCEP wanted to finish the discussions by December 2016. However, this seems not possible. The negotiations might go into 2017,” the minister told reporters. The next meeting of ministers for progress review of the negotiations is going to be held in November. The trade ministers of RCEP including India, Japan and China had a meeting in Laos on August 5 to end the deadlock and sort out the issues which are holding back the negotiations. There are various complex issues, such as from the services sector, which are holding ...

Indias FTA with the Association of South East Asian Nations (ASEAN) has considerably benefited its two-way trade, with an increase of 33% in exports and 79% in imports The Dollar Business Bureau FTA, Exports, FTA Impact on Exports, Economic Survey 2016, India-ASEAN Trade, India-ASEAN FTA, TPP Impacts in India   Indias 42 free trade agreements (FTAs) so far have resulted in more imports than exports, the Economic Survey 2015-16 released by Finance Minister Arun Jaitely on Friday revealed, outlining reasons such as the countrys greater tariff reduction as compared to its FTA partners. The survey underscored that the country needs to respond with measures, such as safeguard duty and anti-dumping duty to make progress on FTAs, in line with the World Trade Organisation, besides ...

In the financial year 2014-15, India-ASEAN trade stood at $76.58 billion, registering average annual growth rate of 12% from $44 billion during 2009-10 The Dollar Business Bureau India is also considering enhancing the ASEAN-India Science and Technology Development Fund from the current $1 million to $5 million in near future   Concerned over a modest pace of trade and investments growth between India and Thailand, Vice President Hamid Ansari on Thursday said the two countries need to encourage private sector investments to enhance bilateral cooperation. The Vice President who is on a three-day visit to Thailand emphasised that the two countries need to synergise their efforts in the areas of economy and business to enhance and diversify trade. The two governments are willing to ...

The Dollar Business Bureau    India needs to promote its greater connectivity and economic integration with the CLMV (Cambodia, Laos, Myanmar and Vietnam) countries as they together can play a significant role in their economic revival despite the global slowdown, Commerce Minister Nirmala Sitharaman has said. “The trade links and ties between India and the CLMV countries can be much better, and the two governing principles, connectivity and economic integration with regional value chains are crucial. With the world economy falling, it will depend on CMLV countries and India for revival,” the Minister said at the 3rd India – CLMV Business Conclave in Chennai on Wednesday. India’s current trade with the CLMV countries stands at $11 billion and the country has the ...

The Dollar Business Bureau India has accorded high priority to economic engagements with CLMV countries, and is establishing seamless physical connectivity with the region   The Indian government has said that it will focus on increasing bilateral ties with countries in the CLMV region, comprising Cambodia, Lao PDR, Myanmar, and Vietnam under its “Look East” policy. Speaking at the CLMV Business Conclave, India’s Commerce Minister, Nirmala Sitharaman, said that India’s trade with the CLMV countries is mostly with Vietnam and in a few items and there is a tremendous scope to deepen and widen the trade basket in India’s trade ties with this region. She said, “Currently, 70-80% of India-CLMV trade is centred around only a few products. I think ...