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| Friday, 6 February 2004 |
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Draft free trade pact to be signed at seven-nation meet in Thailand India, NEW DELHI, Thursday (AFP) - Trade ministers of seven Asian countries will meet in Thailand later this week to sign a draft free trade area agreement, a senior government official said Wednesday. The draft agreement will be signed at the seven-nation Bangladesh, India, Myanmar, Sri Lanka and Thailand Economic Commission (BIMSTEC) meeting between February 6-8. On January 23, Nepal and Bhutan also joined the BIMSTEC grouping. India's Trade Minister Arun Jaitley and Foreign Minister Yashwant Sinha will travel to Thailand's holiday resort of Phuket to attend the BIMSTEC meeting. "The framework for the free trade area agreement should be signed between the seven countries if we can clear all the sticking points," said the official. "We are expecting the framework agreement to be signed." "The objective of the free trade area agreement is to strengthen and enhance economic, trade and investment cooperation among the parties," the Indian cabinet added in a statement. The BIMSTEC countries have also also pinpointed six areas in which they wish to work closely. "The six areas of cooperation include tourism, transport and communication, trade, fisheries and energy-cooperation. They also want to adopt a common stand against fighting terrorism," said the government official. Indian Prime Atal Behari Vajpayee Monday earlier cancelled his plans to visit Thailand to attend the meeting, prompting the postponment of a BIMSTEC summit on February 9. India's foreign ministry did not give reasons, but Vajpayee's party is gearing up for general elections in April or May - five months ahead of scheduled dates - on the back of a growing economy and improving ties with Pakistan. |
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