Free trade: GK, Current Affairs, Questions, Trivia and News

Developing Country Status in WTO

US President Trump has made a sharp criticism against the World Trade Organisation (WTO) for allowing countries such as India and China to engage in unfair trade practices that affect American economic interests. President Trump questioned the “developing country” status enjoyed by India and China at the WTO and argued that these countries are not ..

Competition Commission of India

The Competition Commission of India (CCI) is a statutory body of the Government of India which has been made responsible to enforce the Competition Act, 2002 in India. It also aims to prevent all unfair trade activities that have an adverse effect on competition in India. Why was the CCI formed? After the economic liberalization ..

Free Trade and Warehousing Zones in India

The Central Government of India has plans to approve 8 Free Trade and Warehousing Zones(FTWZs) in India of which 4 have already been notified by the Government. 3 FTWZs are already operational. Private investors have invested nearly 3400 crores in these FTWZs till date. The Central Government has made no investments in these CTWZs. What/Why ..

EU approves world’s largest free trade deal with Japan

On December 12, the European Parliament has approved the world’s largest free trade deal between Japan and the European Union (EU). The EU-Japan Economic Partnership Agreement will go into effect in February 2019. It will remove duties on almost all agricultural and industrial products as well as open up the service sector and procurement. It ..

African Continental Free Trade Area

The African Continental Free Trade Area is the result of the African Continental Free Trade Agreement among all 55 members of the African Union. If ratified, the agreement would result in the largest free-trade area in terms of participating countries since the formation of the World Trade Organization. African heads of state gathered in Kigali, Rwanda in March 2018 to sign the proposed agreement. Forty-four of ..