ISDS Case Map
BIMSTEC
Bangladesh-India-Myanmar-Sri Lanka-Thailand (plus Bhutan and Nepal) Economic Cooperation
The ongoing eighth meeting of BIMSTEC trade-negotiation committee (TNC) has decided to set up a separate body to oversee the enforcement of free trade accord among the seven member states once it is finalized.
The Eighth BIMSTEC Trade Negotiation Committee meeting began in Dhaka today with the aim of developing a free trade agreement between member countries.
Trade experts of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) are working on settling various issues pertaining to trade and investment in a bid to start a journey towards free trade area (FTA) among member countries from July 2006.
India on Tuesday moved a step closer towards finalising its negotiating strategy for the BIMSTEC Free Trade Agreement (FTA) with the Commerce Ministry continuing rigorous consultations with Indian industry for identifying the items of India's export interest figuring in the "sensitive list'' of other member countries.
India and the Bay of Bengal Initiative for Multisectoral Technical and Economic Cooperation (Bimstec) member countries plan to sign a deal to provide access to each others' markets for the pharmaceuticals and services sectors.
A BIMSTEC Free Trade Area agreement was signed in last February. The agreement covers trade in goods, services and investment. Negotiations are progressing well on specific issues. The Agreement would come into force from July 2006.
The domestic auto industry has asked the government to include completely-built units of all four-wheelers (including buses, trucks, MUVs and passenger cars) and two-wheelers (up to 250 cc) in the negative list for the free trade agreement (FTA) with the Bimstec regional block.
Officials of the member countries of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (Bimstec) will meet in Colombo in the first week of June to exchange the negative lists of sensitive goods in the run up for a free trade pact among them.
Though the end of the quota regime has made India a much sought-after destination in the textile sector, the industry here is reeling under fears of cheap imports from Sri Lanka and Bangladesh.
Though the end of the quota regime has made India a much sought-after destination in the textile sector, the industry here is reeling under fears of cheap imports from Sri Lanka and Bangladesh.
