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India-Thailand Comprehensive Economic Cooperation Agreement (CECA) negotiations.

India-Thailand Comprehensive Economic Cooperation

Agreement (CECA) negotiations

  1. In November 2001, the Prime Minister of Thailand, Dr. Thaksin Shinawatra and the Prime Minister of India agreed to set up a Joint Working Group (JWG) to undertake feasibility study on a Free Trade Agreement between India and Thailand. The Joint Working Group observed that the present policy regimes in both the countries were conducive to more intensive bilateral economic integration and a Free Trade Agreement could prove to be a building block for other sub-regional, regional and global economic integration processes of which both countries are a part. Having observed rich potential of trade expansion, the study concluded that the proposed Free Trade Agreement between India and Thailand is feasible, desirable and mutually beneficial. Accordingly, a Joint Negotiating Group was set up to draft the Framework Agreement on India – Thailand FTA.

  2. During the visit of Indian Prime Minister to Thailand, a Framework Agreement for establishing Free Trade between India and Thailand was signed by the Commerce Ministers of the two sides on 9th October, 2003 in Bangkok, Thailand. The Framework Agreement cover FTA in Goods, Services and Investment and Areas of Economic Cooperation. The Framework Agreement also provided for an Early Harvest Scheme (EHS) under which 82 common items of export interest to the sides have been agreed for elimination of tariff on a fast track basis.

Current Status

  1. The tariff concessions on 82 items of EHS list began from 1.9.2004. The tariffs on these items have become zero for both sides from 1.9.2006.

  2. India-Thailand Trade Negotiating Committee (TNC) has been constituted and discussions are being held on a comprehensive FTA including Trade in Goods, Trade in Services, Investment, Rules of Origin, Dispute Settlement Mechanism etc. 17 Rounds of negotiations have so far been held.

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What is New?

Date: 01-10-2015
Customs Notification No 97/2015 (NT)
Rate of exchange of conversion of the foreign currency with effect from 2nd October, 2015

Date: 01-10-2015
DGFT Public Notice No. 38/2015-2020
Amendment in Appendix – 2T in Appendices and Aayat Niryat Forms of FTP 2015-20.

Date: 01-10-2015
DGFT Public Notice No. 39/2015-2020
Enlistment under Appendix 2E – Agencies Authorized to issue Certificate of Origin - (Non-Preferential).

Date: 30-09-2015
Customs Notification No. 48/ 2015
seeks to further amend notification No. 12/2012-Customs dated 17.03.2012 so as to: extend zero import duty regime for all pulses except gram [CTH 0713 20 00] and lentil [CTH 0713 40 00] without an end date .extend zero import duty regime for gram [CTH 0713 20 00] and lentils [CTH 0713 40 00] only up to 31.12.2015

Date: 30-09-2015
Customs Notification No 96/2015 (NT)
Tariff Notification in respect of fixation of T V of Edible oil, Brass, Poppy seed, Areca nut, Gold and Sliver

Date: 30-09-2015
RBI/2015-16/195 A.P. (DIR Series) Circular No.18
Regularisation of assets held abroad by a person resident in India under Foreign Exchange Management Act, 1999

Date: 29-09-2015
Customs Notification No 95/2015 (NT)
Rate of exchange of conversion of the foreign currency with effect from 30th September, 2015

Date: 29-09-2015
Customs Circular No 23/2015
Regarding Refund/Claim of Safeguard Duties as Duty Drawback

Date: 29-09-2015
RBI/2015-16/193 A.P. (DIR Series) Circular No.17
External Commercial Borrowings (ECB) Policy - Issuance of Rupee denominated bonds overseas

Date: 25-09-2015
Notification No. FEMA. 348/2015-RB
Foreign Exchange Management (Regularization of assets held abroad by a person resident in India) Regulations, 2015.

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