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INDIA-ASEAN FTA WON'T HIT SOUTHERN FARMERS: INDUSTRY MINISTER.
NEW DELHI, Sept 1 Asia Pulse - Allaying fears of the Left-ruled Kerala that an FTA with ASEAN could harm farmers' interest in the southern states, Commerce and Industry Minister Kamal Nath on Friday said India cannot get isolated in the growing economies of east Asia.
"They don't even know what the agreement is," Nath said when asked to comment on opposition from the Kerala Government for the free trade agreement (FTA) which will bring down duties on 80 per cent of trade with the 10-nation economic bloc to a mere five per cent.
Nath said coconut, spices, wheat, maize, rice, processed food and rubber are in the 288-item negative list which will remain outside the purview of the FTA.
Besides, India will maintain a Highly Sensitive List for crude palm oil (CPO), refined palm oil (RPO), black tea, pepper and coffee. "On pepper, duty will be reduced to 50 per cent by 2018," Nath said, ...
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Source: HighBeam Research, INDIA-ASEAN FTA WON'T HIT SOUTHERN FARMERS: INDUSTRY MINISTER.