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Consider the following statements about ASEAN-India Trade in Goods Agreement (AITIGA) and identify the incorrect statement:
- a)It is a free trade agreement.
- b)It is signed among the ten member states of the Association of Southeast Asian Nations (ASEAN) and India.
- c)It is yet to come into force.
- d)None of the Above.
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements about ASEAN-India Trade in Goods Ag...
Explanation:
The incorrect statement about the ASEAN-India Trade in Goods Agreement (AITIGA) is option C - "It is yet to come into force." The AITIGA has already come into force.
ASEAN-India Trade in Goods Agreement (AITIGA)
The ASEAN-India Trade in Goods Agreement (AITIGA) is a free trade agreement signed between the ten member states of the Association of Southeast Asian Nations (ASEAN) and India.
Key Points:
Here are the key points about AITIGA:
1. Free Trade Agreement: AITIGA is a free trade agreement, which means it aims to promote free trade between ASEAN countries and India by reducing or eliminating tariffs and non-tariff barriers on goods traded between them.
2. Participating Countries: The agreement is signed among the ten member states of ASEAN, which include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam, along with India.
3. Implementation: The AITIGA was signed on August 13, 2009, and it came into force on January 1, 2010. Therefore, the statement that it is yet to come into force is incorrect.
4. Trade Facilitation: AITIGA aims to enhance trade facilitation between ASEAN and India by promoting transparency, simplifying customs procedures, and reducing trade barriers. It also includes provisions for cooperation in areas such as customs administration, standards, technical regulations, and sanitary and phytosanitary measures.
5. Economic Benefits: The agreement is expected to boost trade and investment between ASEAN and India by providing businesses with better market access, reducing trade costs, and promoting economic integration. It also aims to promote regional value chains and enhance competitiveness.
6. Expansion of Agreement: In addition to the AITIGA, ASEAN and India have also signed agreements in other areas such as services and investment to further enhance economic cooperation.
In conclusion, the ASEAN-India Trade in Goods Agreement (AITIGA) is a free trade agreement signed between ASEAN member states and India. It aims to promote free trade, reduce trade barriers, and enhance economic cooperation between the participating countries. The agreement has already come into force, contrary to the statement mentioned in option C.
The incorrect statement about the ASEAN-India Trade in Goods Agreement (AITIGA) is option C - "It is yet to come into force." The AITIGA has already come into force.
ASEAN-India Trade in Goods Agreement (AITIGA)
The ASEAN-India Trade in Goods Agreement (AITIGA) is a free trade agreement signed between the ten member states of the Association of Southeast Asian Nations (ASEAN) and India.
Key Points:
Here are the key points about AITIGA:
1. Free Trade Agreement: AITIGA is a free trade agreement, which means it aims to promote free trade between ASEAN countries and India by reducing or eliminating tariffs and non-tariff barriers on goods traded between them.
2. Participating Countries: The agreement is signed among the ten member states of ASEAN, which include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam, along with India.
3. Implementation: The AITIGA was signed on August 13, 2009, and it came into force on January 1, 2010. Therefore, the statement that it is yet to come into force is incorrect.
4. Trade Facilitation: AITIGA aims to enhance trade facilitation between ASEAN and India by promoting transparency, simplifying customs procedures, and reducing trade barriers. It also includes provisions for cooperation in areas such as customs administration, standards, technical regulations, and sanitary and phytosanitary measures.
5. Economic Benefits: The agreement is expected to boost trade and investment between ASEAN and India by providing businesses with better market access, reducing trade costs, and promoting economic integration. It also aims to promote regional value chains and enhance competitiveness.
6. Expansion of Agreement: In addition to the AITIGA, ASEAN and India have also signed agreements in other areas such as services and investment to further enhance economic cooperation.
In conclusion, the ASEAN-India Trade in Goods Agreement (AITIGA) is a free trade agreement signed between ASEAN member states and India. It aims to promote free trade, reduce trade barriers, and enhance economic cooperation between the participating countries. The agreement has already come into force, contrary to the statement mentioned in option C.
Community Answer
Consider the following statements about ASEAN-India Trade in Goods Ag...
- The ASEAN–India Free Trade Area (AIFTA) is a free trade agreement among the ten member states of the Association of Southeast Asian Nations (ASEAN) and India.
- It came into force from January 2010.
- Under the pact, two trading partners set timelines for eliminating duties on the maximum number of goods traded between the two regions
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Consider the following statements about ASEAN-India Trade in Goods Agreement (AITIGA) and identify the incorrect statement:a)It is a free trade agreement.b)It is signed among the ten member states of the Association of Southeast Asian Nations (ASEAN) and India.c)It is yet to come into force.d)None of the Above.Correct answer is option 'C'. Can you explain this answer?
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Consider the following statements about ASEAN-India Trade in Goods Agreement (AITIGA) and identify the incorrect statement:a)It is a free trade agreement.b)It is signed among the ten member states of the Association of Southeast Asian Nations (ASEAN) and India.c)It is yet to come into force.d)None of the Above.Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements about ASEAN-India Trade in Goods Agreement (AITIGA) and identify the incorrect statement:a)It is a free trade agreement.b)It is signed among the ten member states of the Association of Southeast Asian Nations (ASEAN) and India.c)It is yet to come into force.d)None of the Above.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements about ASEAN-India Trade in Goods Agreement (AITIGA) and identify the incorrect statement:a)It is a free trade agreement.b)It is signed among the ten member states of the Association of Southeast Asian Nations (ASEAN) and India.c)It is yet to come into force.d)None of the Above.Correct answer is option 'C'. Can you explain this answer?.
Consider the following statements about ASEAN-India Trade in Goods Agreement (AITIGA) and identify the incorrect statement:a)It is a free trade agreement.b)It is signed among the ten member states of the Association of Southeast Asian Nations (ASEAN) and India.c)It is yet to come into force.d)None of the Above.Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements about ASEAN-India Trade in Goods Agreement (AITIGA) and identify the incorrect statement:a)It is a free trade agreement.b)It is signed among the ten member states of the Association of Southeast Asian Nations (ASEAN) and India.c)It is yet to come into force.d)None of the Above.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements about ASEAN-India Trade in Goods Agreement (AITIGA) and identify the incorrect statement:a)It is a free trade agreement.b)It is signed among the ten member states of the Association of Southeast Asian Nations (ASEAN) and India.c)It is yet to come into force.d)None of the Above.Correct answer is option 'C'. Can you explain this answer?.
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Consider the following statements about ASEAN-India Trade in Goods Agreement (AITIGA) and identify the incorrect statement:a)It is a free trade agreement.b)It is signed among the ten member states of the Association of Southeast Asian Nations (ASEAN) and India.c)It is yet to come into force.d)None of the Above.Correct answer is option 'C'. Can you explain this answer?, a detailed solution for Consider the following statements about ASEAN-India Trade in Goods Agreement (AITIGA) and identify the incorrect statement:a)It is a free trade agreement.b)It is signed among the ten member states of the Association of Southeast Asian Nations (ASEAN) and India.c)It is yet to come into force.d)None of the Above.Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of Consider the following statements about ASEAN-India Trade in Goods Agreement (AITIGA) and identify the incorrect statement:a)It is a free trade agreement.b)It is signed among the ten member states of the Association of Southeast Asian Nations (ASEAN) and India.c)It is yet to come into force.d)None of the Above.Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
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