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

Who it concerns: 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.

What was agreed

• 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.

Also in the document

• The agreement targets the potential announcement of a Framework Agreement by the end of 2006, subject to the feasibility study results.
• Specific sectors identified for enhanced economic and technical cooperation include bio-energy, bio-technology, and information and communication technology.