FTA is an agreement between the countries or regional blocks to reduce or eliminate trade barriers, though mutual negotiations with a view to enhancing trade. It can however be comprehensive to include goods, services, investment, intellectual property,competition, government procurement and other areas. On goods, the key areas covered are customs duties or tariffs, rules of origins, non-tariff measures such as technical barriers to trade(TBT), sanitary phytosanitary (SPS) measures, trade remedies etc. On services, the negotiations are on barriers to various modes of supply including domestic regulations. The WTO uses the nomenclature of Regional Trade Agreements (RTAs) to describe FTAs.
Trade agreements could be bilateral, plurilateral or multilateral. Bilateral trade agreements occur when two countries agree to unshackle trade restrictions to expand business opportunities. Plurilateral agreements occur between a large number of countries, either in the regional context or otherwise. Multilateral trade agreements is generally referred to for WTO negotiations since it covers a large number of countries and sets global trade rules. As per WTO statistics, there were 349 trade agreements in force, as on 15 June, 2021. However, there were notifications of 565 trade agreements. Every WTO Member has atleast one trade agreement.
India has signed 11 free trade agreements (FTAs) and 6 preferential trade
agreements
(PTA).
A brief on the trade agreements signed by India are as under.
The commercial relations between Sri Lanka and India has marked a historical milestone when it was signed the...
The South Asian Free Trade Area (SAFTA) is the free trade arrangement of the South Asian Association for...
This agreement has been renewed periodically, with mutually agreed...
The EHS for Framework Agreement for establishing Free Trade Area between the Government of the Republic of...
This agreement has been renewed periodically, with mutually agreed...
The India Malaysia Comprehensive Economic Cooperation Agreement (MICECA) was signed on 18
The Comprehensive Economic Partnership Agreement (CEPA) is a free trade agreement between India and...
This agreement has been renewed periodically, with mutually agreed modifications. Agreement dated
The India Malaysia Comprehensive Economic Cooperation Agreement
India and Mauritius signed the Comprehensive Economic Cooperation
andPartnershi Agreement ...
This is a comprehensive agreement on goods which provides broad
market
access to Nepal’s export to India. The agreement...
Asia Pacific Trade Agreement (APTA), a preferential regional trade agreement formerly known as the Bangkok...
The Global system of trade preferences among developing countries (G.S.T.P) is a preferential trade agreement signed on...
India and Afghanistan signed a Preferential Trade Agreement (PTA) in March 2003 under which India allowed...
MERCOSUR is a trading bloc in South America region comprising of Argentina, Brazil, Paraguay and Uruguay. As a...
The Agreement on SAARC Preferential Trading Arrangement (SAPTA) which envisages the creation of a Preferential...
The Agreement on SAARC Preferential Trading Arrangement (SAPTA) which...