Non-tariff barriers to trade Current Affairs, GK & News

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 ..

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UNSC adopts Resolution 2428 to impose an arms embargo on South Sudan

The United Nations Security Council (UNSC) has adopted a resolution 2428 (2018) to impose an arms embargo on South Sudan. The measure will stop the flow of weapons to armed groups in the country. It is in addition to the current sanctions, till May 31, 2019. Under the terms of Resolution, all Member States must ..

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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 ..

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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.

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