Page 53 - Fta News Today

Vietnam has been continuously listed among the group of 30 countries and territories with the largest import and export value on a global scale, according to the rankings compiled by the World Trade Organization (WTO).

Trade in goods, including passenger vehicles, is one of the areas under the negotiations, which started on January 13, 2022.

Trade between the two increased to $17.5bn in 2021-22 from $13.2bn in 2020-21. Indian exports stood at $10.5bn in 2021-22, while imports were $7bn.

Iran, EAEU finalize talks on free trade of over 7,500 commodities: Iranian official-

Indias free trade agreement (FTA) signed with Australia, which comes into effect from December 29 this year, will be beneficial for Indian garment and home textile exporters, according to India Ratings and Research (Ind-Ra).

Australia's zero import duty access to India, which was earlier 5 per cent, will provide a level-playing field with exports from China, Vietnam and Bangladesh, the Ratings agency said on today.

India and Australia signed Economic Cooperation and Trade Agreement (ECTA) on 2nd April 2022 and committed to producing conducive results by the end of the year. Commerce and industry minister Piyush Goyal described the implementation of the free trade pact as "the dawn of a whole new era."

The cabinet says negotiations with the US, South Korea and the United Arab Emirates on the Free Trade Area are ongoing.

India should open up its market to foreign audit firms under free trade agreements (FTAs) only on a reciprocal basis, said Debashis Mitra, president of the accounting rule-maker Institute of Chartered Accountants of India (ICAI)

Labour-intensive sectors which would gain immensely include textiles and apparel, few agricultural and fish products, leather, footwear, furniture, sports goods, jewellery, machinery, and electrical goods.