Consider the following statements about these two Free Trade agreements: Comprehensive Economic Partnership Agreement and Comprehensive Economic Cooperation Agreement
Which of the above statements is/are correct?
Consider the following statements about these two Free Trade agreements: Comprehensive Economic Partnership Agreement and Comprehensive Economic Cooperation Agreement
Which of the above statements is/are correct?
The correct option is A 1 and 2 only
The major “technical” difference between a CECA and CEPA is that CECA involves only “tariff reduction/elimination in a phased manner on listed / all items except the negative list and tariff rate quota (TRQ) items” , CEPA also covers the trade in services and investment, and other areas of economic partnership. So CEPA is a wider term that CECA and has the widest coverage.
Usually CECA is signed first with a country and after that negotiations may start for a CEPA. For example, India-Sri Lanka Free Trade Agreement (CECA) was signed in December, 1998. After that the two countries have since initiated negotiations in August 2004 on
comprehensive Economic Partnership Agreement (CEPA) which covers trade in services and investment.
Countries India has signed CEPA with : Japan, South Korea
Countries India has signed CECA with : Sri Lanka, Singapore,
1 and 2 only
The major “technical” difference between a CECA and CEPA is that CECA involves only “tariff reduction/elimination in a phased manner on listed / all items except the negative list and tariff rate quota (TRQ) items” , CEPA also covers the trade in services and investment, and other areas of economic partnership. So CEPA is a wider term that CECA and has the widest coverage.
Usually CECA is signed first with a country and after that negotiations may start for a CEPA. For example, India-Sri Lanka Free Trade Agreement (CECA) was signed in December, 1998. After that the two countries have since initiated negotiations in August 2004 on
comprehensive Economic Partnership Agreement (CEPA) which covers trade in services and investment.
Countries India has signed CEPA with : Japan, South Korea
Countries India has signed CECA with : Sri Lanka, Singapore,
