fbpx

AGREEMENT ON COMPREHENSIVE ECONOMIC COOPERATION BETWEEN THE REPUBLIC OF INDIA AND THE ASSOCIATION OF SOUTHEAST ASIAN NATIONS

Posted in Uncategorized

AGREEMENT ON COMPREHENSIVE ECONOMIC COOPERATION BETWEEN THE REPUBLIC OF INDIA AND THE ASSOCIATION OF SOUTHEAST ASIAN NATIONS 

PREAMBLE

The Government of the Republic of India (India) and the Governments of Brunei Darussalam, the Kingdom of Cambodia (Cambodia), the Republic of Indonesia (Indonesia), the Lao People’s Democratic Republic (Lao PDR), Malaysia, the Union of Myanmar (Myanmar), the Republic of the Philippines (the Philippines), the Republic of Singapore (Singapore), the Kingdom of Thailand (Thailand) and the Socialist Republic of Viet Nam (Viet Nam), Member States of the Association of Southeast Asian Nations (collectively, “ASEAN” or “ASEAN Member States”, or individually, “ASEAN Member State”),

 

RECALLING the Framework Agreement on Comprehensive Economic Cooperation between the Republic of India and the Association of Southeast Asian Nations (the Framework Agreement) signed in Bali, Indonesia on 8 October 2003;

 

REAFFIRMING the commitment of India and ASEAN (collectively, the “Parties”, or individually referring to India or to an ASEAN Member State as a “Party”) to gradually reduce and eliminate tariffs in accordance with specified schedules;

 

CONSIDERING the necessity to revise the Framework Agreement to reflect the current position in relation to the

Early Harvest Programme (EHP) in the Framework Agreement and the various timeframes indicated therein;

DESIRING to reflect the various amendments pursuant to Article 14 of the Framework Agreement,

HAVE AGREED AS FOLLOWS:

ARTICLE 1

Applied Most Favoured Nation Tariff Rates

Paragraph 2(a) of Article 3 of the Framework Agreement shall be amended by replacing the date “1 July 2004” with the date “1 July 2007”.

ARTICLE 2

Periods for Reduction or Elimination of Applied Most Favoured Nation Tariff Rates

  1. The periods for the reduction or elimination of applied Most Favoured Nation (MFN) tariff rates for Normal Track products set out in paragraphs 5(a)(i) to (iii) of Article 3 of the Framework Agreement shall be amended as follows:

“Track 1

  • 1 January 2010 to 31 December 2013 for Brunei Darussalam, Indonesia, Malaysia, Singapore and Thailand, and India;
  • 1 January 2010 to 31 December 2018 for the Philippines and India; and
  • 1 January 2010 to 31 December 2013 for India and 1 January 2010 to 31 December 2018 for Cambodia, Lao PDR, Myanmar and Viet Nam.

Track 2

  • 1 January 2010 to 31 December 2016 for Brunei Darussalam, Indonesia, Malaysia, Singapore and Thailand, and India;
  • 1 January 2010 to 31 December 2019 for the Philippines and India; and
  • 1 January 2010 to 31 December 2016 for India and 1 January 2010 to 31 December 2021 for Cambodia, Lao PDR, Myanmar and Viet Nam.”
  1. The revised date of commencement of 1 January 2010 as referred to in paragraph 1 may, if necessary, be adjusted to a date to be mutually agreed upon by the Parties pursuant to the amended paragraph 1 of Article 8 of the Framework Agreement.

 

ARTICLE 3

Early Harvest Programme

The Parties agree not to pursue the EHP and accordingly, the Framework Agreement is amended as follows:

  • Paragraph 5 of Article 3 shall be amended by deleting the phrase “not covered by the Early Harvest Programme under Article 7 of this Agreement”;
  • Paragraph 6 of Article 3 shall be amended by deleting the phrase “and Article 7 of this Agreement”; and
  • Article 7 shall be deleted and the product coverage referred to in paragraph 3(a) of that Article shall be treated as being covered by the words “all products” in paragraph 5 of Article 3.

ARTICLE 4

Timeframes

  1. Paragraphs 1 and 2 of Article 8 of the Framework Agreement shall be deleted and substituted as follows:

“(1) For trade in goods, negotiations on the agreement for tariff reduction or elimination and other matters as set out in Article 3 of this Agreement shall commence in January 2004 and be concluded by 2009 or such other dates as may be mutually agreed upon by the Parties.

(2) The negotiations on Rules of Origin for trade in goods under Article 3 shall be concluded by 2009 or such other dates as may be mutually agreed upon by the Parties.”

  1. The first sentence of paragraph 3 of Article 8 of the Framework Agreement shall be deleted and substituted as follows:

“For trade in services and investments, the negotiations on the respective agreements which commenced in October 2008 shall be concluded as a single undertaking by 2009 or such other date as may be mutually agreed upon by the Parties.”

ARTICLE 5

Dispute Settlement Mechanism

Paragraph 1 of Article 11 of the Framework Agreement shall be amended as follows:

“(1) The Parties shall, by 2009, or such other dates as may be mutually agreed upon by the Parties, conclude negotiations for the establishment of the dispute settlement procedures and mechanism for the purposes of this Agreement.”

ARTICLE 6

Depositary

For the ASEAN Member States, this Protocol shall be deposited with the Secretary-General of ASEAN, who shall promptly furnish a certified copy thereof to each ASEAN Member State.

ARTICLE 7

Entry into Force

  1. Each Party shall notify all the other Parties in writing upon completion of its internal requirements1 necessary for the entry into force of this Protocol. This Protocol shall enter into force on 1 January 2010 or the date by which such notifications have been made by the Governments of India and at least one (1) ASEAN Member State.
  1. Where a Party is unable to complete its internal requirements for the entry into force of this Protocol by 1 January 2010, this Protocol shall enter into force for that Party on 1 June 2010 or upon the date by which that Party notifies the completion of its internal requirements.

ASEAN-India Protocol to Amend the Framework Agreement

Source: Min. of Commerce, Govt. of India

FOR FURTHER ASSISTANCE PLEASE CONTACT
(It is a Free Enquiry Service. Please read the disclaimer below):
CP: Mr. Ravi Jha
Mob: +91-9999005379

Email : jha.sravi@gmail.com   

Disclaimer: Please refer to official sources before effecting a decision.
“We Provide Specialized Service / Consultancy on the subject matter. For a Quote Please provide a detailed outline of your Query / Requirement through email.”

 

Loading