With reference to the government procurement in Free Trade Agreement (FTA), consider the following statements:1. The India-UAE Comprehensive Economic Partnership Agreement (CEPA), set to come into force on May 1, includes a chapter on government procurement, granting UAE-based companies treatment on par with domestic companies.2. India is a signatory to the World Trade Organisations Government Procurement Agreement (GPA).Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer?

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With reference to the government procurement in Free Trade Agreement (FTA), consider the following statements:

1. The India-UAE Comprehensive Economic Partnership Agreement (CEPA), set to come into force on May 1, includes a chapter on government procurement, granting UAE-based companies treatment on par with domestic companies.

2. India is a signatory to the World Trade Organisations Government Procurement Agreement (GPA).

Which of the statements given above is/are correct?

a)
1 only
b)
2 only
c)
Both 1 and 2
d)
Neither 1 nor 2

Correct answer is option 'A'. Can you explain this answer?

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Daily Current Affairs MCQ- March 31, 2022

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With reference to the government procurement in Free Trade Agreement (...

The India-UAE Comprehensive Economic Partnership Agreement (CEPA), set to come into force on May 1, includes a chapter on government procurement, granting UAE-based companies treatment on par with domestic companies.

This is the first instance of India including government procurement in a Free Trade Agreement (FTA).
The move marks a major shift in India’s stance on government procurement, which had also been a stumbling block in major FTA negotiations, including those with the European Union.
Government procurement is estimated to be worth about 20-22 per cent of GDP.
India has previously been unwilling to discuss government procurement in bilateral or multilateral trade agreements to protect domestic firms which rely on it.
India is also not a signatory to the World Trade Organisations Government Procurement Agreement (GPA), but has been an observer since 2010.

Hence only statement 1 is correct.

Answered by Notes Wala · View profile

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With reference to the government procurement in Free Trade Agreement (FTA), consider the following statements:1. The India-UAE Comprehensive Economic Partnership Agreement (CEPA), set to come into force on May 1, includes a chapter on government procurement, granting UAE-based companies treatment on par with domestic companies.2. India is a signatory to the World Trade Organisations Government Procurement Agreement (GPA).Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer?

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