India and U.K. on Tuesday expressed commitment to conclude the broadbased India-EU Free Trade Agreement (FTA) by the end of the year. “Both economies are sharing the gains from increased trade and investment flows. Both sides are fully committed to ensure the conclusion of an ambitious and balanced broad-based EU-India FTA by the end of the year,” said the joint communique issued after a meeting between Finance Minister Pranab Mukherjee and Britain’s Chancellor of Exchequer George Osborne.

Viet Nam earned US$13.9 billion from agricultural exports during the first seven months of this year, a year-on-year increase of 33.4 per cent. According to the director of the Ministry of Agriculture and Rural Development’s Information and Statistics Centre, Nguyen Viet Chien, agricultural products such as rice, pepper and rubber made up $8.1 billion of total exports, an increase of 44.6 per cent in comparison with the same period last year. Chien added that the increase had occurred mainly due to price hikes experienced by agricultural products.

(Reuters) - The head of the World Trade Organization castigated its 153 members on Tuesday for failing to agree a watered-down global trade deal by December, and called for "an adult conversation" over what to do next. "What we are seeing today is the paralysis in negotiating function of the WTO, whether it is on market access or on the rule-making," Lamy told the WTO's Trade Negotiations Committee, according to a transcript of his remarks.

HA NOI - The EU has officially certified 380 Vietnamese seafood firms to export their products to the European market, according to the Viet Nam Association of Seafood Exporters and Processors (VASEP). The new list of certified exporters will come into effect by tomorrow, said Tran Bich Nga, deputy director of the National Agro-Forestry-Fisheries Quality Assurance Department (NAFIQAD). 

The UK and India have held an economic and financial dialogue, discussing ways to strengthen mutual cooperation and boost bilateral trade and investment, while businesses signed new deals worth over GBP1bn (USD1.64bn).

Ten years since the concept of a free-trade agreement (FTA) among Japan, China and South Korea was proposed, some visibly significant moves have gotten under way recently. The three countries, at their leaders’ summit talks held in Japan on May 21 and 22, reached agreement to conclude the industry-government-academia joint studies on the FTA issue this year and begin intergovernmental negotiations next year.

Indonesia’s State board of logistics (Bulog) said Indonesia will import 500,000 tons of rice from Vietnam to strengthen its stocks this year. An agreement has been signed with Vietnam which offers cheaper price than the price set by Thailand, Bulog chief Sutarto Alimoeso said. The price of the Vietnamese rice with broken ratio of 15 per cent is even cheaper than the local price of the state food, Sutarto said. He said Bulog is still considering importing an additional 100,000 tons of rice with broken ratio of 5 per cent from Vietnam and Thailand.

Taipei (CNA) - Both India and Indonesia are considering possibility of signing free trade agreements (FTA) with Taiwan. Ministry of Economic Affairs (MOEA) officials told the Central News Agency that the Taiwan-based Chung-Hua Institution for Economic Research and the India Council for Research on International Economic Relations (ICRIER) are moving to the last phase of dialogue on a possible FTA deal for the two countries, with the two sides expected to hold talks soon.

MUSCAT — Aiming to explore further trade and investment opportunities in many areas, the Sultanate will host the first GCC-ASEAN Business Forum in February next year. To be organised in co-ordination with the various chambers of commerce, the forum will address key issues such as connectivity, service sectors and e-commerce which are vital for development, according to the officials at the recently held meeting of the First GCC-ASEAN Senior Economic Officials’ in Salalah.

LAHORE (APP)- Thai government is focusing on an early meeting of Pak-Thai Joint Trade Commission for early signing of Free Trade Agreement (FTA) between the two countries. Thai Minister, Department of South Asian, Middle East and African Affairs, Mr Nat Pinyo WattanaCheep said this during a meeting with businessmen at Lahore Chamber of Commerce and Industry on Monday.