Author Profile

Legal India News Admin

Posted On by &filed under .


What are the tariff concessions offered by India and ASEAN to each other in Merchandise Trade?

What are the tariff concessions offered by India and ASEAN to each other in Merchandise Trade?

The Agreement will eliminate tariffs on 80% of the tariff lines accounting for 75% of the trade in a gradual manner starting from 1st January, 2010. Considering domestic sensitivities, India has excluded 489 tariff lines(HS6 Digit level) from the list of tariff concessions and 590 tariff lines from the list of tariff elimination to address sensitivities in agriculture, textiles, auto, chemicals, petrochemicals, crude and refined palm oil, coffee, tea, pepper etc.

ASEAN countries have also maintained country wise exclusion list from the proposed tariff concessions or eliminations.

International Trade Law includes the appropriate rules and customs for handling trade between countries. However, it is also used in legal writings as trade between private sectors, which is not right.

This branch of law is now an independent field of study as most governments has become part of the world trade, as members of the World Trade Organization (WTO).

Since the transaction between private sectors of different countries is an important part of the WTO activities, this latter branch of law is now a very important part of the academic works and is under study in many universities across the world.


Leave a Reply

Be the First to Comment!

Notify of
avatar
wpDiscuz