International Trade: GK, Current Affairs, Questions, Trivia and News

Draft agri-export policy : Key Features

A draft Agri Export Policy has been released by the Commerce Ministry. The National Agriculture Export Policy is being formulated in line with the vision to double the farmer’s income and increase the share of agricultural exports from $30 billion to $60 billion by 2022. The features of the policy include Identification of commodities which ..

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 ..

Trade Facilitation Agreement

The government had approved a proposal to notify the Trade Facilitation Agreement (TFA) of the World Trade Organization (WTO) in February, 2016. The proposal regarding ratification and acceptance of the instrument of acceptance of protocol of TFA to WTO Secretariat was also approved by the Union Cabinet. National Committee on Trade Facilitation Government also decided ..

New Delhi hosts Informal World Trade Organisation (WTO) ministerial meeting

The two-day Informal World Trade Organisation (WTO) ministerial meeting has started in New Delhi on March 19, 2018. Representatives from 50 countries are participating in the meet. The informal meeting is expected to provide an opportunity to engage in free and frank discussions leading to political guidance on some of the major issues, both at ..

What is the meaning of Cost and Freight?

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 ..

What is the meaning of comparative advantage?

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 ..

India to host mini-ministerial meeting of WTO members in Feb 2018 to revitalize multi-lateral trade body

The mini-ministerial meeting of WTO members from both rich and developing nations is proposed to be hosted by India in February 2018 to revitalize the multi-lateral trade body. The objective of the meeting is to discuss ways to revitalise the WTO, which is the best available multilateral institution to ensure predictable and transparent system of ..

India to host meeting of WTO member countries in February on food security and other issues

India will host a meeting of WTO member countries in February 2018 to muster support for food security and other issues. This was stated by Commerce and Industry Minister Suresh Prabhu while speaking at an event organised by Apparel Export Promotion Council, AEPC in New Delhi on December 18, 2017. He further stated that the ..