07/08/2008 (The Economic Times), New Delhi - The India-Asean free trade agreement (FTA) - which would result in duty-free trade with Asean countries such as Malaysia and Singapore in most agriculture and industrial products over the next 10 years - is finally ready for take-off. The trade negotiations committee (TNC) comprising top officials from India and the ten-member bloc is meeting, probably for the last time, on Thursday in Brunei to give a final push to the FTA and seal the deal.

Tricky issues including demands for lower duties on palm oil by Indonesia, which have not yet been fully sorted out, are expected to be dealt with at the meeting following which the agreement will be finalised, government sources said. The key meeting comes close on the heels of the collapse of the multilateral talks at the World Trade Organisation mini-ministerial in Geneva - a failure which is expected to push countries to move faster on regional trading agreements.