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National News

Sep 12, 2019
1:25PM

India requests South Korea, Japan to review their FTAs with New Delhi

@PiyushGoyalOffc
New Delhi has requested South Korea and Japan to review their respective Free Trade Agreements (FTAs) with India. Talking to media persons in New Delhi, Commerce Minister Piyush Goyal said, the FTAs should be reviewed as the present import-export position has changed since the time India entered into these agreements. The development comes just after India and the Association of Southeast Asian Nations decided to review their FTA.

On the proposed Regional Comprehensive Economic Partnership (RCEP), Mr Goyal said that negotiations for the deal are going on and that the government will make sure that India's national interests are protected. He stressed upon the fact that the government has taken a balanced approach in negotiating the RCEP. The Minister said, representatives of all the 15 RCEP negotiating countries have been invited to India from September 14-15 to discuss various ideas and measures regarding the mega trade pact.

Earlier in the day, Mr Goyal held a meeting with representatives of domestic industries, manufacturers and sector specific associations in New Delhi to discuss regulatory instruments for the formulation and implementation of effective trade policy and development strategy.

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