CURRENT AFFAIRS

Detailed explanation-1: -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-2: -India has bilateral agreements with the following countries and blocs: Australia. Bhutan. Chile.

Detailed explanation-3: -Compared to multilateral trade agreements, bilateral trade agreements are negotiated more easily, because only two nations are party to the agreement.