Tuesday, November 30, 2010

Trade with Commonwealth Nations

India has entered into Free Trade Agreements (FTAs) / Preferential Trade Agreements (PTAs) with the objective of promoting trade with many countries and regional groupings of which Commonwealth countries are a member.
Following is a list of FTAs/PTAs that
India has signed or is negotiating with commonwealth countries:

A-FTAs / PTAs already concluded

S. No.

FTA/PTA

Partner Commonwealth countries

1.

South Asia Free Trade Agreement (SAFTA)

Bangladesh, Maldives, Pakistan and Sri Lanka

2.

South Asia Preferential Trade Agreement (SAPTA)

Bangladesh, Maldives, Pakistan and Sri Lanka




3.

India-ASEAN FTA

Brunei, Malaysia and Singapore

4.

Global System of Trade Preferences (GSTP)

Bangladesh, Cameroon, Ghana, Guyana, Malaysia, Mozambique, Nigeria, Pakistan, Singapore, Sri Lanka, Trinidad and Tobago

5.

India-Singapore Comprehensive Economic Cooperation Agreement (CECA)

Singapore

6.

India – Sri Lanka FTA

Sri Lanka

7.

Asia Pacific Trade Agreement (APTA)

Bangladesh and Sri Lanka

8.

India-Afghanistan PTA

Afghanistan

B-FTAs / PTAs under negotiation

S. No.

FTA/PTA

Partner Commonwealth countries

1.

India-EU Bilateral Trade and Investment Agreement (BTIA)

Cyprus, Malta and UK

2.

Bay of Bengal Initiative for Multisectoral Technical and Economic Cooperation(BIMSTEC)

Bangladesh and Sri Lanka

3.

Southern African Customs Union (SACU)

Botswana, Lesotho, Namibia and South Africa

4.

India – Malaysia

Malaysia

5.

India – Mauritius

Mauritius

6.

India – Canada

Canada

7.

India-New Zealand

New Zealand

















During 2007-08, 2008-09 and 2009-10, India's trade with Commonwealth Nations was US D 79.45 billion, US D 89.60 billion and US D 81.96 billion respectively. During the same period India's trade with SAARC countries was US D 11.76 billion, US D 10.39 billion and US D 10.05 billion respectively.

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