India’s Current Engagement of FTAs and PTAs

BIMST-EC FTA (Bangladesh, India, Myanmar, Sri Lanka, Thailand Economic Cooperation) 1997

The Free Trade negotiations among Bangladesh, India, Sri Lanka and Thailand were initiated in the year 1994. Myanmar joined the group at a later stage.  The framework of agreement for BIMST-EC-FTA was signed on 8th February 2004 in Phuket, Thailand by Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand

• This group was envisaged as a ‘bridging link’ between ASEAN and SAARC nations

• The Objective of the agreement was to ensure cooperation between  countries of South East & South Asia grouped around Bay of Bengal.

• Trade Negotiating Committee formed by the members of the agreement carries out the programme of FTA. 

• Negotiations on Trade in Services and Trade in Investments of the agreement commenced in 2005 and will be concluded by 2007.