India Open to FTA with United States

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Nov. 25 – Prime Minister Manmohan Singh said that India is willing to consider a free trade pact with the United States similar to the one it already has with Association of Southeast Asian Nations (ASEAN).

“I don’t mind exploring the possibility for a free trade agreement with the United States,” Mr. Singh said during a meeting with the Council on Foreign Relations during his first four-day state visit to the United States.

He said that India’s preferred a fair and equitable multilateral trading agreement, and expressed hope that the Doha Round can succeed reports Zee News. Calling for “reduced role for trade distortions represented by tariffs and non-tariff barriers,” the Prime Minister said, “I sincerely hope that the Doha Round can succeed.”

India recently signed a free trade agreement with ASEAN to reduce tax on about 4,000 items by 2016. The Doha Round of talks aimed at increasing world trade by lower trade barriers has been hampered by certain issues between developed and emerging economies over farm subsidies, agriculture, industrial goods and services.