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India minister’s dismissal of Asean members as ‘China’s B team’ hits confidence in trade pact
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Indian Commerce Minister Piyush Goyal criticised the free trade agreement between Asean and India as "silly".
PHOTO: BLOOMBERG
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- Commerce Minister Goyal called the Asean trade agreement "silly," favouring deals with EU and others, sparking consternation within Asean.
- A review was initiated in 2023, with India keen to address the growing trade imbalance in favour of South-east Asian countries.
- Mr Goyal said: "It really is silly because I am opening up my market to my competitors, many of whom have now become the B-team of China.”
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NEW DELHI – A review of a free trade agreement (FTA) between Asean and India has hit a rough patch after Indian Commerce Minister Piyush Goyal criticised the accord as “silly” and called some South-east Asian countries “China’s B team”.
The FTA was signed in 2009.
