India-Indonesia JSG to submit CECA feasibility report within 12 months

This Memorandum of Understanding between India and Indonesia establishes a Joint Study Group to examine the feasibility of a Comprehensive Economic Cooperation Agreement (CECA), with a bilateral Free Trade Area as a long-term objective.

The agreement involves the Governments of India and Indonesia, specifically the Department of Commerce (India) and the Department of Trade (Indonesia). It affects government officials, the private sector, academia, and sectors including trade, industry, investment, financial services, ICT, bio-technology, bio-energy, pharmaceuticals, healthcare, education, infrastructure, and tourism.

• Establishment of a Joint Study Group (JSG) co-chaired by the Secretary of India's Department of Commerce and the Secretary General of Indonesia's Department of Trade.
• The JSG must submit its report within 12 months of its constitution.
• The JSG is tasked with developing a policy framework for trade in goods, services, and investment, including the feasibility of a Free Trade Agreement in Goods.
• If feasible, the JSG will develop a Framework Agreement for consideration by leaders, possibly by the end of 2006.
• The MoU remains in force indefinitely unless terminated by either party with 6 months' advance notice.

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