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

Current Trends in India’s Agricultural Exports and Imports

In 2012-13, the share of agricultural commodities and food products in India’s overall export basket was 10.66%.  This figure was around 20% in 1990s while 7.9% in late 2010s. Thus, from 1990s onwards, the share of farm exports in India’s total exports went down, and it has only improved in recent years marginally. The reason ..

Trans-Pacific Partnership

In 2005, three countries viz. Chile, New Zealand and Singapore came together and created a free trade agreement called Trans-Pacific Strategic Economic Partnership or TPSEP. Later Brunei joined them and it was now also known as P4. From 2010 onwards, there have been discussions to make it more wider, more disciplined free trade agreement to ..

Russia formally joins WTO

After 18 years of negotiations Russia has finally become a formal member of the World Trade Organisation(WTO). Russia is ready to cut import tariffs on goods, including food and cars and to ease controls on foreign companies entering its financial and telecom sectors. Russia joins as the 156th member of the WTO.

India, Bangladesh for Fast Track Implementation of Various Pacts

India and Bangladesh decided to speedily implement various agreements signed b/w them in 2010 and 2011. The various agreements are related to projects under the Indian line of credit, land boundary agreement implementation, trade facilitation measures, infrastructure development of land customs station and border haats. They also discussed about co-operation in the field of renewable ..

India leaves China behind in export growth rate: WTO

India is now ahead of China in terms of exports growth rate. It registered an increase of 16.1% in 2011. The country is at the pinnacle in the list of all major trading countries in the world. As per the WTO Report 2012, India had the fastest export growth among major traders in 2011. China ..

EU intensifies arms embargo & sanctions against Syria

The European Union intensified arms embargo and sanctions against the Syria government in reaction to rising violence in the country. The 27-member Union adopted the conclusion according to which vessels and aircraft heading to Syria will be inspected if it is suspected that the cargo contains arms or equipment for internal oppression. As per the ..

China now relies on American exports

A deteriorating Chinese economy, affected by a further slowdown, has become a cause of concern for the United States officials and the two presidential campaigns, as Chinese companies is showing grater dependence on exporting to the American market. What is reason of China becoming so much reliant on American exports? The decline in the real ..

U.S. takes China to WTO on dumping row

The US-China trade pettifoggeries might now be an eternal issue at the WTO as US announced that it would be “challenging China’s imposition of antidumping and countervailing duties on more than $3 billion in exports of American-produced automobiles”. The U.S. had called for dispute settlement consultations with China at the WTO in an effort to ..