India, Indonesia launch CECA negotiations

Agreement that would cover economic co-operation, trade in goods and services and investment.
Speaking at the Indonesia-India Biennial Trade Ministers’ Forum (BTMF) in Jakarta, Union Commerce and Industry Minister Anand Sharma, said: “We have launched our bilateral CECA negotiations. I am glad to note that the negotiations have got off to a good start.

“As agreed by our negotiators, the CECA would build on what has already been achieved under the ASEAN-India FTA and would be a comprehensive agreement, covering economic co-operation, trade in goods and services and investment.”
He said successful conclusion of the CECA would lead to a higher-level and mutually beneficial economic co-operation between the two countries.

The visit by Mr Sharma assumes significance given the fact that India would be participating in ASEAN and East Asia summits next month at Bali under the chairmanship of Indonesia.
Both governments also agreed to establish a working group on trade and investment forum and another working group on identification and elimination of trade barriers. “Our senior officials have discussed issues relating to non-tariff barriers. India is particularly keen on bovine meat exports to Indonesia and higher participation in the pharmaceutical sector of Indonesia,” he said. – The Hindu.