Free trade agreements Current Affairs, GK & News

Philippines’ stance on RCEP

Philippines Senate has postponed the ratification of RCEP after Farmers and other civil society groups in the country took cue from India’s decision to stay out of RCEP. Highlights Philippines also expressed strong reservations against mega trade deal signed by Duterte government. Decision to defer ratification was taken in the backdrop of strong opposition by ..

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U.K-India Free-trade deal Talks

On January 13, 2022, UK government announced the launch of free trade agreement (FTA) negotiations with India. Key Facts This move is being described as a golden opportunity, of putting British businesses at the front of Indian economy. FTA is likely to take UK’s historic partnership with India to the next level. With this FTA, ..

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UK-India Trade Talks- Key Facts

Commerce and Industry Minister of India, Piyush Goyal hold a virtual meeting with his UK counterpart, Liz Truss, on September 13, 2021. During the meeting, both the ministers agreed on the next steps to launch negotiations for UK-India trade agreement. Highlights According to UK’s Department for International Trade (DIT), talks between both the ministers were ..

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UN: India is 5th largest FDI recipient in 2020

As per UN report, India received USD 64 billion in foreign direct investments (FDI) in 2020. It has emerged the fifth largest recipient of FDI inflows across the world. World Investment Report 2021 “World Investment Report 2021” was released by UN Conference on Trade and Development (UNCTAD). As per the report, global FDI flows have ..

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UK-Vietnam Free Trade Agreement

The United Kingdom and Vietnam recently signed an agreement on trade. The agreement is to eliminate 99% of tariffs within seven years. Highlights With the elimination of 99% of tariff, Vietnam is to benefit from tariff savings of 114 million pounds, that is 151 million USD on its exports and British will benefit 36 million ..

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CAROTAR Rules, 2020

CAROTAR is Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020. It came into force in September, 2020. These rules are set of guidelines that enforce the “rules of origin” for the rate on imports under Free Trade Agreements. What are CAROTAR rules? Under these rules, an importer is required to do due ..

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