Free trade agreements Current Affairs, GK & News

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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RCEP: 15 Asian Economies sign World largest China-backed deal

On November 15, 2020, China and fourteen other countries signed a deal to set up the world largest trading bloc. The negotiations to sign the deal began in 2011. These 15 countries account to 30% of world population and 30% of global GDP. Thus, the deal is the world largest Free Trade Agreement. Key Highlights ..

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