CURRENT AFFAIRS

2020

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A virtual meeting between India and Southern African Customs Union (SACU) took place to achieve a Preferential Trade Agreement (PTA). How many countries are there in Southern African Customs Union?

A	6
B	5
C	9
D	4

Explanation:

Detailed explanation-1: -South African Customs Union (SACU) comprises of South Africa, Lesotho, Swaziland, Botswana and Namibia. So far, 5 rounds of negotiations of India-SACU PTA have been held. The 1st round of technical discussions for India-SACU PTA took place in Pretoria on 5th–6th October, 2007.

Detailed explanation-2: -Within Asia, India has signed bilateral FTAs with Sri Lanka (1998), Afghanistan (2003), Thailand (2004), Singapore (2005), Bhutan (2006), Nepal (2009), Korea (2009), Malaysia (2011) and Japan (2011).

Detailed explanation-3: -Southern African Customs Union (SACU) Agreement between the Governments of the Republic of Botswana, the Kingdom of Lesotho, the Republic of Namibia, the Republic of South Africa and the Kingdom of Swaziland (SACU)

Detailed explanation-4: -This is the term used in the WTO for trade preferences, such as lower or zero tariffs, which a member may offer to a trade partner unilaterally.

Detailed explanation-5: -The CECPA is the first trade Agreement signed by India with a country in Africa.

There is 1 question to complete.