ISDS Case Map
ASEAN
Having secured a good deal in merchandise trade in the free trade agreement, the ten-member Asean is dragging its feet on meeting India’s demand for liberalising trade in services and investments, especially movement of professionals.
Taiwan is looking to negotiate a free-trade agreement with ASEAN as soon as it accomplishes its historic economic partnership with China, slated to be signed this June, say official and scholars.
Southeast Asian countries are split on Obama’s top trade initiative, the Trans-Pacific Partnership, which he aims to turn into a platform for economic integration in the Asia-Pacific region.
While India mulls another free trade agreement (FTA) with Australia and New Zealand, its FTAs with European Union and Japan remains shrouded in uncertainty with its decisions regarding intellectual property (IP) rights likely to impact not just India, but other developing South East Asian countries as well.
Once India enters into FTA with Asean countries, who have already entered into the similar FTA with China, it is inevitable that Chinese products, imported under FTA within Asean countries could find their way very conveniently into Indian market.
The Rural Bankers Association of the Philippines says its sector will suffer greatly as tariffs on farm goods fall in line with the implementation of the ASEAN FTA.
India and the ten-member ASEAN block will hold parleys on ways to conclude talks before the August 2010 deadline to widen the scope of Free Trade Agreement (FTA) to include services and investment expected to provide huge opportunity to Indian professionals to work in Southeast Asia.
If they dominate the 1.9 billion-population China-ASEAN FTA, Chinese companies could build a platform from which to attack European and North American markets.
India will try to expedite negotiations on opening up trade in services with the 10-member ASEAN at a senior officials meeting next week in Jakarta.
Implementation of the Asean-China Free Trade Agreement (ACFTA) will pose a serious threat to the national economic foundation and resilience.
