• 9964432222
  • Mail Us
  • Appointment
  • Locate Us
  • Chat Now
  • Courses
  • Login
  • Register
Manifest IAS
JournalsOfIndia
Manifest Learning Academy
  • Home
  • SNIPPETSfor Prelims
  • ARTICLESfor Mains
  • BROWSEBY SOURCE
  • DOWNLOADS
No Result
View All Result
  • Home
  • SNIPPETSfor Prelims
  • ARTICLESfor Mains
  • BROWSEBY SOURCE
  • DOWNLOADS
No Result
View All Result
JournalsOfIndia
No Result
View All Result
Home Foreign Affairs

India and Bangladesh to negotiate on CEPA

September 7, 2022
in Foreign Affairs
Reading Time: 4 mins read
0
India and Bangladesh to negotiate on CEPA
265
VIEWS
Share on WhatsAppShare on TelegramShare on Facebook
image_pdfMake PDF
In news– Following a meeting with the visiting Prime Minister of Bangladesh, Indian Prime Minister has recently said that India and Bangladesh will soon commence negotiations on a Bilateral Comprehensive Economic Partnership Agreement (CEPA).

The India- Bangladesh CEPA –

  • It is likely to focus on trade in goods, services, and investment, with a key objective being the reduction of the trade gap between the two countries. 
  • The proposed CEPA between Bangladesh and India has three dimensions, namely trade in goods, trade in services, and investment. 
  • The main target of the proposed agreement is to reduce the huge trade gap between Bangladesh and India and open up new economic opportunities including connectivity, new markets, and cooperation and partnership. 
  • As Bangladesh prepares to graduate into a developing nation by 2026 after which it may no longer qualify for trade benefits that it currently enjoys as a least-developed country, it is keen to clinch the CEPA in a year.

How is a Comprehensive Economic Partnership Agreement (CEPA) different from FTA? 

  • As the name suggests, CEPA is more comprehensive and ambitious than an FTA in terms of partnership across a wider coverage of areas and the type of commitments. 
  • While a traditional FTA focuses mainly on goods; a CEPA is more ambitious in terms of a holistic coverage of many areas like services, investment, IPR, government procurement, disputes etc. Secondly, CEPA looks deeper at the regulatory aspects of trade than an FTA. 

Existing frameworks-

The current institutional frameworks for trade and investment include:

  • During the visit of Prime Minister Modi to Bangladesh in June 2015, the bilateral trade agreement between the two countries was renewed for a period of five years with a provision for auto renewal.
  • Under the provisions of the South Asian Free Trade Area (SAFTA), Bangladesh extends preferential tariffs to Indian exports of products outside the ‘sensitive list’. 
  • In 2011, India announced duty-free, quota-free access to Bangladesh for all tariff lines except tobacco and alcohol.
  • An Agreement on Promotion and Protection of Investments has been in force since 2011. 
  • Joint Interpretative Notes to the agreement were signed during the visit of the Indian Finance Minister to Bangladesh in October 2017.
  • To facilitate trade and transit through inland waterways, a Protocol on Inland Waterways Trade and Transit (PIWTT) has been in place since 1972. 
  • The PIWTT too was renewed for a period of five years with a provision for auto renewal in 2015. 
  • The protocol allows the movement of goods by barges/ vessels on eight routes between points in India and Bangladesh, as well as between points in India through Bangladesh.
  • Direct sea movement of containerized/ bulk/ dry cargo began after the signing of a Memorandum of Understanding (MoU) on Coastal Shipping in June 2015. 
  • MoUs were signed in 2015 on the use of the Chittagong and Mongla Ports for Movement of Goods to and from India.
  • The MoU on Border Haats on the India-Bangladesh border was renewed in April 2017 during the visit of Prime Minister Hasina to India. 

Currently, four Border Haats — two each in Meghalaya (Kalaichar and Balat) and Tripura (Srinagar and Kamalasagar) — are functional. 

India & Bangladesh Trade relations-

  • In 2021-22, Bangladesh has emerged as the largest trade partner for India in South Asia and the fourth largest destination for Indian exports worldwide. 
  • Exports to Bangladesh grew more than 66 per cent from $9.69 billion in FY 2020-21 to $16.15 billion in FY 2021-22.
  • India is Bangladesh’s second biggest trade partner, and its largest export market in Asia. 
  • Despite Covid-19 related disruptions, bilateral trade grew at an unprecedented rate of almost 44 per cent from $10.78 billion in 2020-21 to $18.13 billion in 2021-22.
  • India’s main exports to Bangladesh are raw cotton, non-retail pure cotton yarn, and electricity, and its main imports from the country are pure vegetable oils, non-knit men’s suits, and textile scraps.
image_pdfMake PDF
Source: The Indian Express
Tags: News PaperPrelims

Related Posts

United Nations Permanent Forum on Indigenous Issues(UNFII)

United Nations Permanent Forum on Indigenous Issues(UNFII)

May 1, 2023
EU’s Digital Services Act

EU’s Digital Services Act

April 27, 2023
European Union approves carbon market scheme

European Union approves carbon market scheme

April 27, 2023
The Markets in Crypto Assets (MiCA)

The Markets in Crypto Assets (MiCA)

April 26, 2023
4th India-CARICOM ministerial meeting

4th India-CARICOM ministerial meeting

April 24, 2023
UN Women

UN Women

April 20, 2023
Global Buddhist Summit

Global Buddhist Summit

April 19, 2023
Germany shuts down its last three nuclear reactors

Germany shuts down its last three nuclear reactors

April 17, 2023
25th anniversary of the Good Friday Agreement

25th anniversary of the Good Friday Agreement

April 12, 2023
The language friendship bridge

The language friendship bridge

April 11, 2023
Please login to join discussion

Our Offline Classroom Student

CONGRATULATIONS TO 2021 TOPPERS !!!

Rank 171 Kumar Shivashish
Rank 250 Sahithya
Rank 263 Sumit Kumar Thakur
Rank 311 Deepak Ramachandra Shet
Rank 455 Ravinandan B M

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    

Browse by Category

  • Agriculture
  • Disaster Management
  • Economy
  • Environment
  • Ethics
  • Foreign Affairs
  • Geography
  • Governance
  • History
  • Law & Policy
  • Opinion
  • People in News
  • Places in News
  • Science & Tech
  • Security
  • Society
  • Sports
  • Uncategorized

Browse by Tags

AIR All India Radio BBC Business Line Business Standard dow Down to Earth DownToEarth DTE Economic Times ET FAO Financial Express GS-1 GS-2 GS-3 GS-4 Hindustan Times IE India & the world Indian express Indiatoday India today Kurukshetra Livelihoods portal LiveMint Mains News Newspaper News Paper PIB Prelims PRS India RSTV Science Reporter Survey The Hindu The India Express The Indian Express The Print the wire Times of India TOI TOPPERS Yojana
JournalsOfIndia

Our vision is to orient the readers to grasp the facts objectively and analyse critically. In the rush of reaching first to the readers, the websites miss the balanced opinion, which is the need of the hour. We aim to reach the readers with more crispness, preciseness and relevance. We bring the articles in UPSC way for the civil services aspirants and the Wisest Way for general readers.

Categories

  • Agriculture
  • Disaster Management
  • Economy
  • Environment
  • Ethics
  • Foreign Affairs
  • Geography
  • Governance
  • History
  • Law & Policy
  • Opinion
  • People in News
  • Places in News
  • Science & Tech
  • Security
  • Society
  • Sports
  • Uncategorized

Browse by Tag

AIR All India Radio BBC Business Line Business Standard dow Down to Earth DownToEarth DTE Economic Times ET FAO Financial Express GS-1 GS-2 GS-3 GS-4 Hindustan Times IE India & the world Indian express Indiatoday India today Kurukshetra Livelihoods portal LiveMint Mains News Newspaper News Paper PIB Prelims PRS India RSTV Science Reporter Survey The Hindu The India Express The Indian Express The Print the wire Times of India TOI TOPPERS Yojana

Newsletter

The most important UPSC news and events of the day.

Get Journals daily newsletter on your inbox.

© 2020 JournalsOfIndia - A free initiative by Manifest Team.

  • Login
  • Sign Up
  • Home
  • SNIPPETS
  • ARTICLES
  • BROWSE
  • DOWNLOADS
No Result
View All Result

© 2020 JournalsOfIndia - A free initiative by Manifest Team.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In