Change set

Pick exam & year, then Go.

Question map
Not attempted Correct Incorrect ★ Bookmarked
Loading…
Q111 (UPPCS/2024) Economy › External Sector & Trade

With reference to "India - Australia Economic Co-operation and Trade Agreement (Ind - Aus ECTA)," which of the following statements is/are correct ?
1. This is a first-of-its-kind initiative of FTAs.
2. The meeting was attended by the Commerce Secretary of India, Shri Sunil Barthwal.
Select the correct answer using the codes given below :

Result
Your answer: —  ·  Correct: D

Explanation

The India-Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA) entered into force on 29 December 2022. Both statements are correct based on the 1st Joint Committee Meeting (JCM) held in April 2024.

  • Statement 1 is correct: According to the Press Information Bureau (PIB), the Ind-Aus ECTA is described as a first-of-its-kind initiative of FTAs because it established a Chief Negotiators’ level institutional mechanism and includes a unique provision for the regular exchange of preferential import data on a monthly basis to monitor trade flows.
  • Statement 2 is correct: The 1st JCM, held on April 1, 2024, in Canberra, was co-chaired by Shri Sunil Barthwal, the Commerce Secretary of India, and George Mina, Deputy Secretary of the Department of Foreign Affairs and Trade, Australia.
How others answered
Each bar shows the % of students who chose that option. Green bar = correct answer, blue outline = your choice.
Community Performance
Out of everyone who attempted this question.
50%
got it right
✓ Thank you! We'll review this.

SIMILAR QUESTIONS

IAS · 2020 · Q42 Relevance score: 1.40

With reference to the international trade of India at present, which of the following statements is/are correct ? 1. India's merchandise exports are less than its merchandise imports. 2. India's imports of iron and steel, chemicals, fertilisers and machinery have decreased in recent years. 3. India's exports of services are more than its imports of services .- 4. India suffers from an overall trade/current account deficit. Select the correct answer using the code given below :

IAS · 2017 · Q83 Relevance score: -0.09

Consider the following statements : 1. India has ratified the Trade Facilitation Agreement (TFA) of WTO. 2. TFA is a part of WTO's Bali Ministerial Package of 2013. 3. TFA came into force in January 2016. Which of the statements given above is/are correct ?

IAS · 2006 · Q118 Relevance score: -1.18

Consider the following statements: I. The agreement on South Asian Free Trade Area (SAFTA) came into effect from Dec. 1, 2005. II. As per SAFTA agreement terms, India, Pakistan and Sri Lanka have to decrease their custom duties to the level of 0 to 5 per cent by the year 2013. Which of the statements given above is/are correct?

IAS · 2022 · Q96 Relevance score: -1.47

With reference to foreign-owned e-commerce firms operating in India, which of the following statements is/are correct ? 1. They can sell their own goods in addition to offering their platforms as market-places. 2. The degree to which they can own big sellers on their platforms is limited. Select the correct answer using the code given below :