<p>India is engaging with the 10-member ASEAN to review the free trade agreement, Parliament was informed on Friday.</p>.<p>In a written reply in the Rajya Sabha, Commerce and Industry Minister Piyush Goyal said in the India-ASEAN Economic Ministers Consultations held on August 29, both sides instructed the senior officials to engage to determine the scope of the review.</p>.<p>Free trade agreements (FTAs) essentially involve mutual concessions between the parties.</p>.<p>"Provisions are envisaged to periodically address any gaps, shortcomings and imbalance. India proposes to suitably use these provisions," he said.</p>.<p>In a free trade agreement, two trading partners either significantly reduce or eliminate customs duties on maximum number of goods traded between them.</p>.<p>"Government of India is engaging with ASEAN to review the FTA in accordance with related provisions of the agreement," he said.</p>.<p>The ASEAN-India Trade in Goods Agreement was signed on August 13, 2009. It came into force on January 1, 2010.</p>.<p>The Association of Southeast Asian Nations (ASEAN) members are -- Indonesia, Thailand, Singapore, Malaysia, the Philippines, Vietnam, Myanmar, Cambodia, Brunei and Laos.</p>
<p>India is engaging with the 10-member ASEAN to review the free trade agreement, Parliament was informed on Friday.</p>.<p>In a written reply in the Rajya Sabha, Commerce and Industry Minister Piyush Goyal said in the India-ASEAN Economic Ministers Consultations held on August 29, both sides instructed the senior officials to engage to determine the scope of the review.</p>.<p>Free trade agreements (FTAs) essentially involve mutual concessions between the parties.</p>.<p>"Provisions are envisaged to periodically address any gaps, shortcomings and imbalance. India proposes to suitably use these provisions," he said.</p>.<p>In a free trade agreement, two trading partners either significantly reduce or eliminate customs duties on maximum number of goods traded between them.</p>.<p>"Government of India is engaging with ASEAN to review the FTA in accordance with related provisions of the agreement," he said.</p>.<p>The ASEAN-India Trade in Goods Agreement was signed on August 13, 2009. It came into force on January 1, 2010.</p>.<p>The Association of Southeast Asian Nations (ASEAN) members are -- Indonesia, Thailand, Singapore, Malaysia, the Philippines, Vietnam, Myanmar, Cambodia, Brunei and Laos.</p>