India And Turkey Set Up A Research Group To Study The Free Trade Agreement.
India and Turkey
A joint research group will be set up to explore the possibility of entering the free trade agreement (FTA).
Although trade between India and Central Asia is slightly higher than US $3 billion, the signing of a trade agreement will reduce tariffs on all commodities, and will greatly increase the scale of trade in the years to come.
"The two sides are holding a meeting and we will meet again in September.
The joint research group will submit a report at the end of the year or in the first quarter of 2011, "AK Mangotra, Minister of Commerce, revealed at the gap of the meeting held by Ficci. He said the joint research group could be completed by the end of the year.
India
Exit
The main commodities to Turkey are cotton.
Man-made fiber
Yarn, chemicals and pharmaceutical products.
Turkey exports to India the main commodities include reactors and fertilizers.
Mangotra confirmed that some sectors, such as tourism, petrochemicals and minerals, have great potential for India companies.
He added that Turkey is an important country. After signing the contract with Turkey, India can enter Europe and the CIS Member States, such as Armenia, Azerbaijan, Kazakhstan, Kyrgyzstan, Turkmenistan, Tajikistan and Uzbekistan.
India is negotiating free trade agreements with several countries, such as Japan, Australia and the European Union.
Although India hopes that the negotiating countries will give a commitment to liberalisation trade in services and trade in goods alike, India will find little support.
Earlier, Rahul Khullar, Minister of Commerce of India, pointed out directly that India would work hard to sign a comprehensive comprehensive trade agreement and regard trade in goods and services as part of the agreement.
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