Kamal Nath, India's Minister of Commerce and Industry, has called for a review of negative lists, in order to expand trade and enlarge the scope for further trade cooperation among SAARC (South Asian Association for Regional Cooperation) countries.
Negative lists are comprised of trade items on which there are no duty reductions.
India has decided to reduce its negative list with reference to the Least developed Countries (LDCs) of SAARC from 744 to around 500 Nath announced, while addressing the Third SAFTA Ministerial Council meeting.
He stated that:
“In keeping with our commitments, we have already notified the advancement of the trade liberalisation programme in respect to LDCs by one year and with effect from 1st January 2008, the import duty on all items other than those in the negative list has been reduced to zero."
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment