India, ASEAN trade ministers to discuss FTA in services sector

Trade Ministers of India and Asean, which will meet on Saturday in Indonesia, are expected to discuss the progress of the ongoing negotiations for a free trade agreement in services sector. This is an area of immense interest for Indian professionals. According official sources, Commerce and Industry Minister Anand Sharma will participate in the meet in Manado in Indonesia. He is likely to discuss about the issue with his Asean counterparts. India and the Association of South East Asian Nations (Asean) has already implemented a free trade agreement in goods and are engaged in intense negotiations to expand this pact to include services and investments. The services sector is of key interest to India as it contributes over 55 per cent to its GDP. The services sector has also emerged as an important area for export earnings. Trade between the two sides stood at 50 billion US dollars. Ministers will also review the status of the implementation of f