Wednesday, 29 March 2017

Proposals on Free Trade

The government has received proposals from Georgia and the Eurasian Economic Union (EAEU) for negotiating Free Trade Agreements (FTAs). The Joint Feasibility Study with Georgia will be conducted to study the feasibility of the proposed FTAs. The Joint Feasibility Study Group Report between the Eurasian Economic Union and its Member States and the Republic of India has been accepted and 1st meeting of Trade Negotiation Committee will held after mutual consent.

Further, the government is negotiating the following trade agreements with other country/block of countries with specific Chapters on Investment:-

(i)    India - EU Broad based Trade and Investment Agreement (BTIA)
(ii)    India – Sri Lanka Economic and Technical Cooperation Agreements (ETCA)
(iii)    India - Thailand Comprehensive Economic Cooperation  Agreement (CECA)
(iv)    India - Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA)
(v)    India-EFTA Trade and Economic Partnership Agreement (TEPA)
(vi)    India - New Zealand Comprehensive Economic Cooperation  Agreement (CECA)
(vii)    India - Australia Comprehensive Economic Cooperation  Agreement (CECA)
(viii)    BIMSTEC Comprehensive Economic Cooperation  Agreement (CECA)
(ix)    India – Canada Free Trade Agreement (FTA)
(x)    Regional Comprehensive Economic Partnership (RCEP) Agreement

    The agreements are likely to provide opportunities for generating economic growth and employment as well as increase mutual investment flows.

    This information was given by the Commerce and Industry Minister Smt. NirmalaSitharaman in a written reply in Rajya Sabha today.


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