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Consider the following statements regarding the Comprehensive Economic Partnership Agreement (CEPA):
1. It is a type of free trade pact which covers trade negotiations in services, investment and Intellectual Property Rights.
2. It is more comprehensive than Free Trade Agreements but less than the Comprehensive Economic Cooperation Agreement (CECA).
3. India has signed CEPAs with Afghanistan and Malaysia.
Which of the statements given above is/are correct?
  • a)
    1 only
  • b)
    2 and 3 only
  • c)
    1 and 3 only
  • d)
    1, 2 and 3
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
Consider the following statements regarding the Comprehensive Economic...
  • Comprehensive Economic Partnership Agreement (CEPA) is a kind of free trade pact which covers negotiation on the trade in services and investment, and other areas of economic partnership.
    • It may even consider negotiation on areas such as trade facilitation and customs cooperation, competition, and Intellectual Property Rights. Hence, statement 1 is correct.
  • Partnership agreements or cooperation agreements are more comprehensive than Free Trade Agreements.
    • A Comprehensive Economic Cooperation Agreement (CECA) generally covers negotiation on trade tariff and TRQ (Tariff Rate Quotas) rates only. CECA is not as comprehensive as CEPA. hence, statement 2 is not correct.
  • CEPA also looks into the regulatory aspect of trade and encompasses an agreement covering the regulatory issues.
  • India has signed CEPAs with South Korea and Japan.
    • India signed a Preferential Trade Agreement (PTA) with Afghanistan and CECA with Malaysia. Hence, statement 3 is not correct.
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Most Upvoted Answer
Consider the following statements regarding the Comprehensive Economic...
Explanation:

Statement 1:
- The first statement is correct. CEPA is a type of free trade agreement that goes beyond traditional agreements by covering trade negotiations in services, investment, and Intellectual Property Rights.

Statement 2:
- The second statement is incorrect. CEPA is more comprehensive than Free Trade Agreements but less comprehensive than the Comprehensive Economic Cooperation Agreement (CECA).

Statement 3:
- The third statement is incorrect. India has signed CEPAs with countries like Japan, South Korea, and Singapore, but not with Afghanistan and Malaysia.
Therefore, the correct answer is option 'A', which states that only the first statement is correct.
Free Test
Community Answer
Consider the following statements regarding the Comprehensive Economic...
  • Comprehensive Economic Partnership Agreement (CEPA) is a kind of free trade pact which covers negotiation on the trade in services and investment, and other areas of economic partnership.
    • It may even consider negotiation on areas such as trade facilitation and customs cooperation, competition, and Intellectual Property Rights. Hence, statement 1 is correct.
  • Partnership agreements or cooperation agreements are more comprehensive than Free Trade Agreements.
    • A Comprehensive Economic Cooperation Agreement (CECA) generally covers negotiation on trade tariff and TRQ (Tariff Rate Quotas) rates only. CECA is not as comprehensive as CEPA. hence, statement 2 is not correct.
  • CEPA also looks into the regulatory aspect of trade and encompasses an agreement covering the regulatory issues.
  • India has signed CEPAs with South Korea and Japan.
    • India signed a Preferential Trade Agreement (PTA) with Afghanistan and CECA with Malaysia. Hence, statement 3 is not correct.
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Consider the following statements regarding the Comprehensive Economic Partnership Agreement (CEPA):1. It is a type of free trade pact which covers trade negotiations in services, investment and Intellectual Property Rights.2. It is more comprehensive than Free Trade Agreements but less than the Comprehensive Economic Cooperation Agreement (CECA).3. India has signed CEPAs with Afghanistan and Malaysia.Which of the statements given above is/are correct?a)1 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer?
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