Recently, with which one of the following countries did India sign the

Recently, with which one of the following countries did India sign the ‘Comprehensive Economic Partnership Agreement’?

[amp_mcq option1=”Egypt” option2=”Israel” option3=”South Africa” option4=”United Arab Emirates” correct=”option4″]

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UPSC CAPF – 2022

India and the United Arab Emirates (UAE) signed the Comprehensive Economic Partnership Agreement (CEPA) on 18th February 2022, which came into force on 1st May 2022.

Comprehensive Economic Partnership Agreements (CEPAs) are broader than Free Trade Agreements (FTAs) and cover trade in goods, services, investment, and other areas of economic partnership. India has been actively pursuing such agreements to boost its trade and economic ties globally.

The India-UAE CEPA aims to boost bilateral trade in goods to $100 billion and trade in services to $15 billion within five years. It provides preferential access to each other’s markets, reduces tariffs, and facilitates easier trade and investment flows.

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