Calcutta, Oct. 1: India and Taiwan are jointly conducting a research to determine the feasibility of a free trade agreement that is “beneficial for both sides”.
The country hopes to complete the research by the end of this year.
“We are hopeful that the joint research will finish by the end of this year,” Tsong-Guey Lee, deputy director-general of the department of investment services of Taiwan, said on the sidelines of an interactive session of the Bharat Chamber of Commerce here today.
Bilateral trade between the two countries is set to grow about 20 per cent over 2011-12. Trade between the two countries in 2011-12 stood at $8.5 billion.
Lee said the country was also looking at increasing import of tea from India. “A large part of our tea import is from Sri Lanka. We are exploring the possibilities of increasing import of tea, particularly from Assam and Darjeeling,” Lee said.