India would make another bid in November to break the
deadlock in talks for a free trade agreement with the
Association of South East Asian Nations (ASEAN). "The
meeting of the trade negotiation committee (TNC) is likely
to be held on 18-19th of next month," commerce secretary
G K Pillai said.
TNC would attempt to build an agreement on the list of
items from both sides on which duties would not be cut,
this month, member countries of ASEAN met to discuss a
new proposal from India to cut its negative list to 560
and formulate its offer.
India has a list of 560 items on which it has refused
to cut tariffs, the ASEAN countries have come up with
a list of 600 items. India claimed that this negative
list of 600 products sent by the ASEAN countries comprises
just 80 per cent of products that are traded while India''s
list takes care of 95 per cent of the traded goods.
has substantially reduced its negative list of 1,440 items
to 854 tariff lines in the first step and to 560 in its
revised offer. However, for 294 items, it has said that
tariffs will be gradually reduced.
meeting in November assumes significance as the December
deadline to conclude the negotiations is round the corner.
Both sides have already missed the June 2005 deadline
to finalise the
pact could not be finalised as the two sides had reservations
over the other''s negative list. An agreement, if clinched,
would come into force in 2007, official sources said.