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  FTA with Indonesia being worked out
 23/08/2008
FTA with Indonesia being worked out India and Indonesia are working on a proposal to clinch a free trade agreement (FTA). "Bilateral trade allows you to focus more on specific needs of both the countries in terms of market access", an official said. Trade with Indonesia touched $ 6.19 billion in 2006-07, a 41 per cent increase over 2005-06. This made Indonesia one of the largest trading partners among the Association of South-East Asian Nations (Asean). In 2006-07, exports to Indonesia grew by 46.8 per cent to $ 2.02 billion and imports recorded a growth of 38.4 per cent to $ 4.16 billion. Imports from Indonesia during April to December 2007 were around $ 3.48 billion, while exports were to the tune of $ 1.32 billion during the same period. A major reason for India’s keeness on a bilateral FTA is because that country is fast becoming a source of raw materials








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