The clinching of the Comprehensive Economic Cooperation Agreement (CECA) with Malaysia would help and encourage India seal similar economic pacts with Indonesia and Thailand, two other powerhouses of the 10-member Association of South East Asian Nations (ASEAN), they added.
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“The CEPA with Japan and the CECA with Malaysia is clearly a very positive push to enhance India's engagement with this vibrant region — the East Asian Community,” noted Secretary (East) in the Foreign Office Latha Reddy.
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Last August, India signalled its intention for political and economic alignment with the Asean by inking a Free Trade Agreement in Goods. Weeks earlier, it signed a CEPA with South Korea, which, however, is not an Asean country.
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The pact with Malaysia goes well beyond the India-Asean FTA in goods. India's successful negotiation of across-the-board access in services and movement of natural persons will ensure easy access for our professionals. India will also soon get access for its two-wheelers, textiles, cotton fabrics, trucks, fruits, eggs and Basmati rice.
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Other initiatives
Officials explain that India is proceeding with other Asean countries through other initiatives. It is integrating Myanmar, the least developed in the grouping, by the South Asian Association for Regional Cooperation by giving it a special status. Laos and Cambodia are being engaged through the Mekong Ganga Initiative. That leaves just the Philippines and the oil-rich Brunei.
“The pattern of India's engagements with the Asean and its extended neighbourhood will help in taking us closer to the Prime Minister's objective of an Asian economic community,” said Mr. Sharma.
.
“The CEPA with Japan and the CECA with Malaysia is clearly a very positive push to enhance India's engagement with this vibrant region — the East Asian Community,” noted Secretary (East) in the Foreign Office Latha Reddy.
.
Last August, India signalled its intention for political and economic alignment with the Asean by inking a Free Trade Agreement in Goods. Weeks earlier, it signed a CEPA with South Korea, which, however, is not an Asean country.
.
The pact with Malaysia goes well beyond the India-Asean FTA in goods. India's successful negotiation of across-the-board access in services and movement of natural persons will ensure easy access for our professionals. India will also soon get access for its two-wheelers, textiles, cotton fabrics, trucks, fruits, eggs and Basmati rice.
.
Other initiatives
Officials explain that India is proceeding with other Asean countries through other initiatives. It is integrating Myanmar, the least developed in the grouping, by the South Asian Association for Regional Cooperation by giving it a special status. Laos and Cambodia are being engaged through the Mekong Ganga Initiative. That leaves just the Philippines and the oil-rich Brunei.
“The pattern of India's engagements with the Asean and its extended neighbourhood will help in taking us closer to the Prime Minister's objective of an Asian economic community,” said Mr. Sharma.
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