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Thai India Free Trade Agreement

EFTA [17] has bilateral agreements with the following countries – including dependent territories – and the blocs: the list of negotiations. Agreements that have so far been discussed only in the absence of formal action by the parties concerned are not mentioned. Negotiation Mechanisms A trade negotiation committee between India and Thailand was established to discuss the details of the framework agreement and to formulate a free trade agreement and strengthen economic cooperation between the two countries. Expert groups have also been set up to negotiate certain areas of the agreement, such as. B the rules of origin of goods, dispute resolution mechanisms and trade in services and investment. These expert panels report their findings to the trade negotiation committee. Note: Any customs union, every common market, any economic union, the Customs and Monetary Union and the Economic and Monetary Union are also a free trade area. Turkey has bilateral and multilateral agreements with: Switzerland (which has a customs union with Liechtenstein, which is sometimes included in agreements) has bilateral agreements with the following countries and blocs:[41] Important framework agreement for the creation of a free trade area between Thailand and India The framework agreement includes the liberalisation of trade in goods, trade in services and investment as well as strengthening economic cooperation. – Trade in goods: the framework agreement provided that Thailand and India would begin negotiations on trade in goods in January 2004 in order to establish the India-Thailand Free Trade Agreement for Trade in Goods by 2010. In order to accelerate tariff reductions, the two countries first agreed on the implementation of a rapid training programme (ETS).

The reduction or elimination of other products that are not covered by the ETS is divided into two tracks: the normal track and the sensitive track. – Trade in services and investment: the framework agreement also agreed to open negotiations on trade in services and investment in January 2004. Both sides agreed to launch a gradual liberalization of trade in services and to establish open and competitive investment systems that facilitate and encourage investment within and between the two countries. – Economic cooperation: Thailand and India agreed to promote and strengthen economic cooperation in areas that would benefit both countries, such as information and communication technologies, tourism, banking and finance, health, construction, etc. The framework agreement also provides for a tariff reduction of 82 products under the ETS, which includes products of interest to both countries, such as fruit (apple, durian, mango), processed products, precious stones and jewellery, steel products, automotive parts, electronics and electrical appliances, etc. The prices of the 82 ETS products have been reduced to 0% since September 1, 2006. The current status trade with Thailand and India has entered into an agreement on trade in goods, which provides for a reduction in tariffs and/or elimination under the normal and sensitive track. In addition, some of the products on the exclusion list, which do not receive a tariff reduction for a period of three years, are subsequently reviewed. The two countries agreed on the “modification of the tariff subheading (CTSH) – local content of 35%” as a general rule for taking into account the origin of the products. They also agreed on product-specific rules (PSR) for an additional 200 items.

Negotiations on trade in services and investment on trade and investment agreements are ongoing and are expected to conclude in 2008. Consensus was reached on dispute resolution mechanisms for an agreement establishing dispute settlement mechanisms, which would be developed as a separate document, to cover all agreements arising from the Free Trade Agreement between Thailand and India.