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India-Australia soon to have FTA

  Jan 19, 2022

India-Australia soon to have FTA

Q What is the context  ?

A India and Australia are expected to complete negotiations for an interim free trade agreement (FTA) soon, a move aimed at boosting economic ties between the two countries.

Q What is Comprehensive Economic Cooperation Agreement (CECA) ?

Q What is a Free Trade Agreement (FTA)?

Q What are key benefits offered by FTA ?

Q How many FTAs does India have?

  1. Asia Pacific Trade Agreement (APTA) with Bangladesh, China, India, Lao PDR, Republic of Korea, and Sri Lanka
  2. Global System of Trade Preferences (GSTP)
  3. India – MERCOSUR PTA etc. with South American countries

Q What are different types of Trade Agreements ?

A Types of Trade Agreements

1. Free Trade Agreement

2. Preferential Trade Agreement

3. Comprehensive Economic Partnership Agreement

4.  Comprehensive Economic Cooperation Agreement

5.  Framework Agreement

6. Early Harvest Scheme