This is in continuation of our earlier circulars regarding Stakeholders inputs for Negotiations for Trade Agreement between India and Eurasian Economic Union [EAEU].
Please note that, we have received communication from the Foreign Trade (CIS) Division, Department of Commerce, GOI regarding Stakeholders inputs / feedback of India’s Wish List for Negotiations for Trade Agreement between India and Eurasian Economic Union (EAEU).
As you might be aware, it is proposed to have a Trade Agreement between India and Eurasian Economic Union comprising Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russian Federation. First round of negotiations for the said Agreement are to commence shortly.
Before the negotiations, Wish Lists are to be exchanged between both the sides. In this context, please find attached the excel containing WishList of the items under purview of Chemexcil for EAEU Member States. The list consists of 100 products of India's export interest identified for Early Harvest Approach for each of the EAEU members.
The following about the Wish lists are highlighted:
1) The Wish list has been prepared on the basis of India’s existing average exports to the EAEU and various modeling simulations. The Wish list thus made consists of products that exhibit dynamism, feasibility and consistency by way of Revealed Comparative Advantage (RCA), Price advantage i.e. India’s capacity to finance the import of the same product or some other product by way of Terms of Trade (ToT), and Sensitivity Analysis (Price Elasticity of Demand, also ?) which takes into the effect the impact of Import tariff reduction, any product that fulfills various permutations and combinations of the conditions stated above have also been included in the Wish list.
2) These products at HS 8-digit (Indian Tariff lines) were subsequently matched with HS 10-digit (EAEU's Tariff lines) to identify the corresponding tariff levied by EAEU.
Members are requested to provide the inputs / feedback as per the enclosed wish list and revert by 12th February 2021 on the following email ids:
Your timely replies will enable FT-CIS, DoC get the desired inputs from the industry for FTA Negotiations.
Acting Executive Director
Encl:- Wish List
Draft_CRT_Wishlist_EAEU_27Jan2021 - CHEMEXCIL ITEMS