CURRENT AFFAIRS

Detailed explanation-1: -India has signed 13 free trade agreements (FTAs) and six preferential pacts so far with its trading partners for ensuring greater market access for domestic goods and promoting exports, Union minister Anupriya Patel said today. The country has recently signed three such agreements with Mauritius, the UAE and Australia.

Detailed explanation-2: -Comprehensive Economic Cooperation and Partnership Agreement between Mauritius and India. The Comprehensive Economic Cooperation and Partnership Agreement (CECPA), between Mauritius and India, signed on 22 February 2021, entered into force on 1 April 2021.

Detailed explanation-3: -Round two of negotiations completed, third round in April to be hosted by India. Joint Statement: “On Thursday 17 March 2022, the Republic of India and the United Kingdom concluded the second round of talks for an India-UK Free Trade Agreement (FTA).

Detailed explanation-4: -January 8, 2022 Did you know that India and Australia have entered into an Economic Cooperation and Trade Agreement? Yes, the #IndAusECTA was signed last year, on 2nd April, 2022; after Ratification and Exchange of Written Instruments, the Agreement has come into force on 29th December 2022.

Detailed explanation-5: -The initiative involves 5 members of SAARC (India, Bangladesh Bhutan, Nepal & Sri Lanka) and 2 members of ASEAN (Thailand, Myanmar).