A Free Trade Agreement (FTA) is an agreement between two or more
countries where the countries agree on certain terms and conditions
that affect trade between them. There are more than 350 FTAs
worldwide today. In the last two decades these agreements
significantly expanded in scope, covering not only market access
but also behind-the-border policy issues going far beyond WTO
rules. Mega regional FTAs like Comprehensive and Progressive
Agreement for Trans-Pacific Partnership (CPTPP) and Regional
Comprehensive Economic Partnership (RCEP) are coming into play.
Developed countries are also establishing their own templates for
FTA-making. This book is intended to bring about a greater level of
understanding among readers in a systematic manner with respect to
the vast changes taking place on the FTA scene worldwide and about
India's own limited participation in this regard so far. FTAs are
legal instruments, but they also substantially affect business,
industry, and agriculture interests. There is a widely held
perception in the country, not without some validity, that India's
existing FTAs, even if limited, have benefitted the partner
countries more than us. India has recently signed two FTAs- with
the UAE and Australia. Discussions with the UK are at an advance
stage and both the countries are expected to sign the FTA soon.
This book tries to capture various aspects of these agreements
keeping India's position in mind.
General
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