Hotline: 1800 102 2007
Search Business Opportunities

India-ASEAN Free Trade Agreement

The Indian finance minister expressed concern that the investment partnership between the two countries is limited and needs to grow

Finance Minister Pranab Mukherjee mentioned that the entry into force of the ASEAN-India FTA-in-Goods has contributed towards this buoyancy in trade while hoping that the India-ASEAN Free Trade Agreement (FTA) in services and investment will be completed early.

In his meeting with the Prime Minister of Vietnam, Nguyen Tan Dung in Hanoi, Vietnam, the minister added that he is not satisfied with the level of economic cooperation and trade between the two countries which, though growing, is far below potential and not even 5% of India's overall trade with ASEAN. Mentioning that this year already US$ 1 billion trade is achieved in the first quarter, Pranab expressed hope to sustain and further develop this momentum.

Further, the minister expressed concern that the investment partnership between the two countries is limited. Though there are several small Indian investors, total Indian investment is not large (US$ 200mn), he said.

He expressed hope that the US$ 5 billion TATA Steel investment would be realised soon and urged the Vietnam Prime Minister to ensure that a level playing field is provided to TATA Steel and that there is no discrimination against Indian investment

The finance minister also expects the Vietnam Government to facilitate the request of two Indian public sector banks, Bank of India and Indian Overseas Bank to open Branch Offices in Vietnam saying that the step would strengthen the economic cooperation between the two countries.

Mukherjee said that India has provided several lines of Credit to Vietnam and is willing to consider additional Lines of Credit, especially for infrastructure projects in Vietnam.

In terms of defence cooperation, ties between the two countries is robust and growing satisfactorily, he said, adding that  India will continue to assist Vietnam in the modernization of its armed forces, particularly the Navy and Air Force. India is also prepared to strengthen intelligence cooperation with Vietnam, he added.


Related opportunities
  • Real Estate
    Regrob is technology-powered real estate brokerage; which help people buy..
    Locations looking for expansion Uttar Pardesh
    Establishment year 2011
    Franchising Launch Date 2011
    Investment size Rs. 10lac - 20lac
    Space required 200 - 500 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Gautam Buddha Nagar Uttar Pardesh
  • is a virtual Kitchen mega mall and one stop..
    Locations looking for expansion Gujarat
    Establishment year 2013
    Franchising Launch Date 2016
    Investment size Rs. 20lac - 30lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Ahmedabad Gujarat
  • Ice creams & Yogurt Parlors
    About: Launched in Delhi, Fruktville is a fast emerging brand of..
    Locations looking for expansion Delhi
    Establishment year 2016
    Franchising Launch Date 2017
    Investment size Rs. 10lac - 20lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • About The great khali Gym and fitness clubDalip Singh Rana..
    Locations looking for expansion Haryana
    Establishment year 2015
    Franchising Launch Date 2015
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 3500-8000sq ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Faridabad Haryana
Insta-Subscribe to
The Franchising World
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities