The wait was worthwhile . After 6 years of negotiations India and ASEAN has signed a deal on free trade of goods.

The strong economic growth of the Asian countries over the last decade has placed them in a position of strength where they can start developing a long term view of regional co-operation . There is a lack of comprehensive strategy on how to integrate ASEAN , SAARC , China  on a common trade platform.

This is the first step in the right direction however still address only part of the puzzle. It will create a platform for India and ASEAN which will facilitate dialogue to further reduce trade tariffs on a range of goods and services over the next decade . ASEAN is the fourth largest trading partner of India after USA, Europe , China with USD 47 billion trade in 2008. The current basket of goods cover electronics , chemicals , machinery and textiles which now contribute 80% of the trade. Agricultural and IT related services are still out of scope.

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