The Free Trade Agreement (FTA) refer to the cooperation between at least two countries to reduce trade barriers like import quotas and tariffs to increase trade of goods and services with each other. How does FTA’s work? The free-trade agreement aims at reducing barriers to exchange so that trade can grow as a result of specialisation, division of labour, and most importantly ..
On 7th December, 2018 Union Cabinet has approved the Agriculture Export Policy, 2018. A Monitoring centre under the Ministry of Commerce would be established to oversee the implementation of the policy. Ministry of Commerce would be the nodal ministry for the implementation of the policy Need Government has committed to double the farmers income by ..
Cost and Freight is a legal term used in international trade and it refers to the charges which the seller has to incur for bringing the goods to the decided destination port. Cost stands for the actual cost of goods while freight stands for all other charges which are related to transportation of goods. In ..
Comparative advantage is elementary to international trade relations. The ability of a nation to produce any commodity at a lesser opportunity cost than its competitors is known as comparative advantage. It is basically a law in economics which refers to the ability of any economic participant to be able to produce various goods at relatively ..
The current trends in global trade can be discusses under the below heads. Positive Relation between Word Trade Growth and World GDP Growth World GDP growth is followed by the growth in world trade, and vice-versa. This indicates that there is a positive relation between growth in export and world GDP growth. However, this growth ..