By: ICN Bureau
Last updated : March 06, 2018 8:18 pm
The Indian Chemical Council (ICC) has suggested some items for inclusion as sensitive products in India\'s list under South Asian Free Trade Area (SAFTA). The Department of Chemicals and Petrochemicals (DCPC) had asked the ICC to provide its comments
The Indian Chemical Council (ICC) has suggested some items for inclusion as
sensitive products in India's list under South Asian Free Trade Area (SAFTA).
The Department of Chemicals and Petrochemicals (DCPC) had asked the ICC to provide its comments on pruning of India's sensitive lists for NLDCs under SAFTA.
The ICC suggested that the following items need to be included as sensitive
product for SAFTA:
Carbonates: Peroxocarbonates (percarbonates); Commercial Ammonium Carbonate
containing Ammonium Carbamate; Dosodium Carbonate, Dosodium Carbonate light,
Dosodium Carbonate dense and Sodium Hydrogencarbonate (Sodium Bicarbonate).
"Transshipments through these countries should not be permitted unless reasonable
value addition is done, otherwise bulk chemicals, speciality chemicals etc from
Singapore and China can come through this route," the ICC said.
The SAFTA agreement came into force on January 1, 2006. Article 7 of the SAFTA
Agreement provides for a phased tariff liberalisation programme under which, in
two years, non least developed countries would bring down tariff to 20 per cent
while least developed countries would bring them down to 30 per cent. NLDCs will
then bring down tariffs from 20 per cent to 0-5 per cent in five years while LDCs
will do so in eight years. NLDCs will then reduce their tariffs for LDC products
to 0-5 per cent in three years.