Negotiations for FTA with Thailand, PTA with S Africa underway
New Delhi: In addition to Mercusor and Egypt, India is negotiating a framework agreement for a free trade area (FTA) with Thailand which is due to be concluded by September. Negotiations are also on for a preferential trading arrangement (PTA) with South Africa. While the framework agreement with Mercusor will be signed during the visit of minister of state for commerce and industry Vidya Sagar Rao to Paraguay (Asuncion) from June 17-18, the PTA with Egypt is due to be concluded during this year after the visit of joint secretary in the commerce ministry MVPC Sastry to Cairo shortly. Besides, the possibility of an agreement for a free trade area with Oman is being explored. The PTA/FTA agreements are designed to enhance bilateral trade and investment between India and the above countries through exchange of tariff concessions, say commerce ministry officials. They say the joint negotiating group (JNG) set up to draft a framework agreement at its first meeting in Bangkok in December 2002 adopted the terms of reference and the schedule of meetings to achieve the objective of concluding the FTA agreement with Thailand by September. The JNG’s second meeting was held on March 10-12
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Govt notifies electricity bill 2003 Sans Clause on regulators
New Delhi: The government has notified the recently passed electricity bill 2003 barring a controversial clause pertaining to superintendence and control of regulators. “The electricity bill has been enacted into a law starting June 10 except for the clause relating to superintendence and control to be exercised over regulators,” said power secretary RV Shahi at an interactive session organised by Confederation of Indian Industry (CII) on the new Bill on Wednesday. The clause concerns appointment of chairperson of an appellate body proposed to be set up to hear appeals from various regulators. He added, “The Bill is based on the principles of promoting competition, protecting consumers interests and providing power to all. Out of the 112 recommendations, the government has already accepted 80 recommendations, of which 50 have become part of the Bill.”
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