Joint feasibility study on the Free Trade Agreement (FTA) between India and EAEU
Posted On : 10th February 2017

Dear All,

ICC has received letter from DCPC, Ministry of Chemicals & Fertilizers, GoI, regarding Joint Feasibility Study on the FTA between India and Eurasian Economic Union (EAEU) which is attached here for your perusal.

It has been stated in the letter that negotiations for entering into FTA between India and EAEU comprising of Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia is likely to commence in early 2017. Negotiations are likely to be pursued on three tracks simultaneously viz. trade in goods, services and investment.

Industry is requested to provide its inputs in respect of Chapters 28, 29, 32 and 38 at HS 6 & 8 digit level for inclusion of goods in "NEGATIVE LIST” where it is felt that interests of Indian manufacturers could be adversely impacted. It will be helpful if these are also accompanied with full justification in terms of EAEU price, current installed production levels, capacity utilization, employment data, etc. Also, the list of goods on HS 6 & 8 digit tariff lines which are of ‘offensive export interest’ to EAEU may also be provided.

In this context, the trade data of chemicals pertaining to Chap 28, 29, 32 & 38 between India and EAEU nations for past 2 yrs is as follows:

Export of India with EAEU nations in terms of Value:

Export from India to: Chap 28 (Rs. Lakhs.) Chap 29 (Rs. Lakhs.) Chap 32 (Rs. Lakhs.) Chap 38 (Rs. Lakhs.)
2014-15 2015-16 2014-15 2015-16 2014-15 2015-16 2014-15 2015-16
Armenia 52.95 25.69 45.72 29.61 8.73 37.29 106.57 387.89
Belarus 1.16 0.17 1,747.11 3,897.39 29.81 13.2 23.13 49.35
Kazakhstan 396.06 188.74 516.78 735.32 301.27 308.71 679.95 824.83
Kyrghyzstan 21.35 15.07 19.78 93.22 1.26 1 15.33 8.15
Russia 5,753.44 6,874.94 33,804.58 35,391.67 12,819.12 12,813.43 14,961.16 17,247.03

Import of India with EAEU nations in terms of Value:

Export to India from : Chap 28 (Rs. Lakhs.) Chap 29 (Rs. Lakhs.) Chap 32 (Rs. Lakhs.) Chap 38 (Rs. Lakhs.)
2014-15 2015-16 2014-15 2015-16 2014-15 2015-16 2014-15  2015-16
Armenia 0 0 13.84 0 0 0 0 0
Belarus 1,185.17 637.76 1,330.45 6,209.60 0.00 1.41 0.14 0.00
Kazakhstan 3,322.27 3,427.32 0.26 0 0 0.54 12.32 6.24
Kyrgyzstan 55.08 0 0 0 0 0 0 0
Russia 41,676.11 39,226.19 48,200.00 38,990.74 642.31 749.97 5,900.67 5,856.36

It will be seen from the above data that there is considerable amount of export and import of products in chap 28, 29, 32 and 38 between India and Russia in the past two years. The detailed list is attached with this mail for your reference.

Awaiting for your views/suggestions via return email at the earliest.

Thanks & Best Regards,

R R GOKHALE

Secretary General

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