Here is Question No. 82 a part of our series on UPSC Prelims 2017
Q82. ‘Broad-based Trade and Investment Agreement (BTIA)’ is sometimes seen in the news in the context of negotiations held between India and
a) European Union
b) Gulf Cooperation Council
c) Organization for Economic Cooperation and Development
d) Shanghai Cooperation Organization
The correct answer is Option 1.
- Broad-based Trade and Investment Agreement (BTIA)
- On June 28, 2007, India and the EU began negotiations in Brussels, Belgium, on a broad-based Bilateral Trade and Investment Agreement (BTIA). Hence, option 1 is correct.
- Both India and the EU expect to promote bilateral trade by removing trade barriers in goods and services, as well as barriers to investment in all sectors of the economy.
- Both parties believe that a comprehensive and ambitious agreement that is consistent with WTO rules and principles would open new markets and expand opportunities for Indian and EU businesses.
- Trade in Goods, Trade in Services, Investment, Sanitary and Phytosanitary Measures, Technical Barriers to Trade, Trade Remedies, Rules of Origin, Customs and Trade Facilitation, Competition, Trade Defense, Government Procurement, Dispute Settlement, Intellectual Property Rights & Geographical Indications, Sustainable Development are all covered by the negotiations.
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