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: -Comprehensive Economic Partnership Agreement (CEPA) between the Government of the Republic of India and the Government of the United Arab Emirates (UAE) - Mcommerce.

Detailed explanation-3: -The initiative involves 5 members of SAARC (India, Bangladesh Bhutan, Nepal & Sri Lanka) and 2 members of ASEAN (Thailand, Myanmar).

Detailed explanation-4: -Australian businesses and consumers can now take advantage of new trade opportunities offered by the Australia-India Economic Cooperation and Trade Agreement (ECTA), which entered into force on 29 December 2022.

Detailed explanation-5: -The Asia Pacific Trade Agreement (earlier known as Bangkok Agreement) is an initiative under the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) for trade expansion through exchange of tariff concessions among developing country members of the Asia Pacific Region.