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Constituted
on 3rd May 2005, the Trade & Economic Relations Committee is
an institutional mechanism for evolving the extent, scope and operational
parameters of our economic relations with other countries in a coordinated
and synchronized manner.
The Committee is serviced by the Prime Minister’s
Office, which may obtain assistance as required from any
Ministry/Department/Agency of Government.
Composition
The
composition of the Trade and Economic Relations Committee is as
follows:-
(a)
Prime Minister
- Chairman
(b)
Finance Minister
(c)
Commerce & Industry Minister
(d)
External Affairs Minister
(e)
Deputy Chairman, Planning Commission
(f)
Chairman, Economic Advisory Council
(g)
Chairman, National Manufacturing Competitiveness Council
(h)
National Security Adviser
(i)
Principal Secretary to PM -
Convenor
The
Secretaries of the Departments of Economic Affairs, Revenue, Commerce,
Industrial Policy & Promotion as well as Secretary, Planning Commission
and Foreign Secretary, are permanent invitees to the meetings of the
Committee.
The Chairman may invite any other Minister/Officer
to any meeting of the Committee depending upon the context.
Charter
The
Committee would engage in the following tasks:
(a)
Suggest mechanisms for promoting economic cooperation through various
arrangements such
as Joint Study Groups, Task Forces, Negotiating Teams, etc.
(b)
Suggest the extent and scope of economic engagement with the identified
countries.
(c)
Commission studies which would be valuable inputs in arriving at suitable
decisions.
(d)
Examine proposals for economic coordination between India and the
identified countries.
Activities
The
Committee has held thirteen meetings till date, in which the following issues
have been discussed:
1.
India’s engagement in regional trading arrangements
2.
Investments, both into the country and by India abroad
3.
Economic relations with the US, with special emphasis on the Small
and Medium Enterprises sector
4.
Economic relations with the EU
5.
Free Trade Agreement between India and the Gulf Cooperation
Council
6.
India’s economic engagement with Bangladesh and Pakistan, esp in
the context of textile trade
7.
India’s economic engagement with Korea
8.
Status of negotiations in the WTO
9.
Progress on South Asian Free Trade Area
10.
Economic Engagement with BIMSTEC
11.
Proposed Framework Agreement with SACU
12.
Proposed Comprehensive Economic Cooperation and Partnership
Agreement (CECPA) and progress on PTA with Mauritius
13.
Recommendations of the India-Israel Joint Study Group
14.
Progress on India- ASEAN FTA
15.
Proposed JSG between India and
Russia
16.
Proposed areas of Trade Cooperation among India, Brazil and
South Africa
17.
CECA between India and Indonesia
18.
Unilateral Tariff Preference Scheme for LDCs
19.
Setting up of a National Center for International Trade Policy
20.
Progress on India- Chile PTA
21.
Progress on India- Mercosur PTA
22.
Constitution of a JWG to study the feasibility of a comprehensive
FTA among SACU, India and MERCOSUR
23.
Issues relating to India-Japan Joint Study Group
24.
Open skies agreement with ASEAN
25.
Trade and Economic Framework between India and Australia
26.
Issues relating to India-EU High Level Trade Group
27.
Progress on Indo- US economic dialogue
28.
Comprehensive Economic Partnership Agreement ( CEPA) with
Republic of Korea
29.
Comprehensive Economic Partnership Agreement ( CEPA )with
Japan
30.
India- Thailand Free Trade Agreement
31.
Negotiations under ASEAN – India Free Trade Agreement
32.
Finalization of Joint Task Force Report for Regional Trading
Arrangement with China
33.
Constitution of a JSG between India- European Free Trade
Association
34.
Setting up a Joint Task Force based on India- Russia Joint Study
Group Report
35.
Adoption of India - Malaysia Joint Study Group Report
36.
Progress on the GCC- India FTA negotiations and Economic
Relations with Saudi Arabia in particular
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