Piyush Goyal pushes for ASEAN FTA renegotiation

Indian exports facing severe barriers, FTA being misused by 'third parties'

Commerce and Industry Minister Piyush Goyal called for a renegotiation of the India-ASEAN free trade agreement (FTA), to prevent its misuse by ‘third parties’ and remove trade restrictions as well as non-tariff barriers that he said have hurt Indian exports disproportionately since the pact was operationalised in 2010.

“It is unfortunate that in the recent past, we had to deal with several restrictive barriers on our exports in the ASEAN region, particularly in the agriculture and auto sectors. I think this only resulted in reciprocal action from other countries, including from India, and will hurt the long-term desire of our leaders to expand trade between the two sides,” Mr. Goyal said on Friday.