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With an objective to double its trade with Indonesia in the next four years, India will formally launch tomorrow negotiations for a comprehensive free trade pact with Indonesia. Besides breaking the tariff walls on merchandise trade, the agreement would also enable professionals from the two countries to take up short-term business assignments in each others' markets. The scope would also cover easing of bilateral investment regime. The Indian team, led by the Commerce and Industry Minister, Mr Anand Sharma, would be in Jakarata tomorrow for launch of the trade negotiations.
“Both the sides will discuss modalities of the Comprehensive Economic Cooperation Agreement (CECA) and also the timeline by which they will conclude the pact,” a Commerce Ministry official said. The bilateral trade between India and Indonesia stood at $13.2 billion in 2010 but it is highly skewed in favour of the south east Asian country.
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