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India grants 'Market Economy' status to Vietnam |
India has granted the 'Market Economy' status to Vietnam, which
responded by entering into the Indo-ASEAN Free Trade Agreement, which was signed
with other members of the ten-nation block in August. Disclosing this here today,
Minister of Commerce and Industry Anand Sharma said: " India has given a 'Market
Economy' status to Vietnam . That agreement has been signed. In this summit itself,
Vietnam signed the India-ASEAN Free Trade Agreement (FTA)." " India has had a
very good economic and political relationship with East Asia for the past few
years especially when India became a full dialogue partner with ASEAN and India
was invited for the East Asia Summit. This is significant," added Sharma. The
ten-member ASEAN, a regional grouping of Southeast Asian nations, and India are
now trying to fast-track negotiations on services and investment, after sealing
a FTA on goods. The FTA on goods with the 42-year-old ASEAN, which was finalised
in August, will be implemented from January 1, 2010. Leaders from the ASEAN, India
, China , Japan , South Korea , New Zealand and Australia are attending the East
Asia Summit being held on the sidelines of the 15th ASEAN Summit. |
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