![]() CEPA may even consider negotiation on areas such as trade facilitation and customs cooperation, competition, and IPR (intellectual property rights).CEPA covers negotiation on the trade in services and investment, and other areas of economic partnership. CECA/CEPA also looks into the regulatory aspect of trade and encompasses and agreement covering the regulatory issues.Partnership agreement or cooperation agreement are more comprehensive than an FTA.India has signed FTA with many countries e.g., Sri Lanka, along with some trading blocs like ASEAN (Association of Southeast Asian Nations).Ĭomprehensive Economic Partnership Agreement (CEPA).In this agreement, a negative list of products and services is maintained by the negotiating countries on which the terms of FTA are not applicable hence it is more comprehensive than preferential trade agreement.A free trade agreement (FTA) is an agreement where two or more countries agree to provide preferential trade terms, tariff concession etc. ![]() For example: India signed a PTA with Afghanistan and MERCOSUR–a South American trade bloc.Tariff may even be reduced to zero for some products even in a PTA.In this trade agreement, a positive list is maintained i.e., the list of the products on which the two partners have agreed to provide preferential access.This is done by reducing duties on an agreed number of tariff lines. PTA is a type of agreement in which two or more partners give preferential right of entry to certain products.An Early Harvest Scheme is thus a step towards enhanced engagement and confidence building.At this stage, the negotiating countries identify certain products for tariff liberalization pending the conclusion of actual FTA negotiations. For example: early harvest scheme of RCEP has been rolled out.An Early Harvest Scheme (EHS) is a precursor to an FTA/CECA/CEPA between two trading partners.India has previously signed framework agreements with the ASEAN, Japan etc.Framework agreement provides for some new area of discussions and set the period for future liberalisation.Framework agreement primarily defines the scope and provisions of orientation of the potential agreement between the trading partners.There are a few types of trade agreements, depending on the terms and concession agreed on by the participating bodies.They mostly involve mutually beneficial concessions, including both trade and non-trade concessions. Trade agreements is an agreement between two or more countries for specific terms of trade, commerce, transit or investment.These similar-sounding words often confuse the aspirants, and hence this article is to assist you in your preparation and help you achieve your goal of clearing UPSC CSE 2022. The UPSC aspirants often come across with words like FTA, PTA, CEPA, etc while reading newspapers. Comprehensive Economic Cooperation Agreement (CECA).Comprehensive Economic Partnership Agreement (CEPA).RPSC RAS Mains Exam 2021- RPSC RAS Mains Exam Date 2021 Out.UPSC ESIC Detailed Eligibility Criteria.UPSC ESIC Recruitment 2021 Notification.ALC Recruitment 2021 Salary and Promotion.APFC Recruitment: Job Profile and Promotions.UPSC CSE 2022 Exam Strategy for Beginners.
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