Taiwan and India begin exploring feasibility of a free trade agreement

The announcement represented further progress in Taiwan's efforts to sign FTAs with its trade partners. A similar process was launched between Taiwan and Singapore last August — two months after the signing of the Taiwan-China economic cooperation framework agreement (ECFA).

Rao told a delegation of Taiwanese journalists that Taiwan's Chung-Hua Institution for Economic Research and the Indian Council for Research on International Economic Relations are jointly assessing the possibility of a Taiwan-India FTA.

The two sides will await the outcome of the study before deciding when to begin FTA negotiations, Rao said.

Gautam Bambawale, joint secretary for East Asia in India's Ministry of External Affairs, predicted that the feasibility study would take one year.

He said India and Taiwan have already signed an investment promotion and protection agreement and are expected to seal three more deals on double taxation avoidance, temporary duty-free admission of goods, and customs cooperation within the next two to three months.

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