Free Trade Agreement (FTA)

 Free Trade Agreement (FTA) : Recently, the second round of negotiations for the proposed India–New Zealand Free Trade Agreement (FTA) concluded successfully, marking a major step toward enhancing bilateral trade and economic cooperation between the two countries.

• About FTA : Are comprehensive trade arrangements between two or more countries designed to reduce or eliminate trade barriers such as tariffs, quotas, and import/export restrictions.

o These agreements aim to provide preferential market access by offering tariff concessions and easing non-tariff barriers.

o Key Features : Cover trade in both goods (agricultural and industrial) and services (e.g., banking, IT, construction).

o Advanced FTAs may also include provisions on: Investment, Intellectual Property Rights (IPRs), Government procurement & Competition policy

o Major Trade Agreements Involving India: India–ASEAN FTA and India–South Korea CEPA

ü Proposed Agreements: India–UK FTA and India–EU FTA