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With reference to the Indo-Sri Lanka Free Trade Agreement (ISFTA), consider the following statements:
1. The current Indo-Sri Lanka Free Trade Agreement (ISFTA) came into effect in 2000.
2. Since 2015 both countries have comprehensive economic and technological partnership.
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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Most Upvoted Answer
With reference to the Indo-Sri Lanka Free Trade Agreement (ISFTA), con...
Sri Lanka will revive its Free Trade Agreement (FTA) with India and upgrade it to a “a comprehensive economic and technological partnership”, President Ranil Wickremesinghe has said, signalling Colombo’s willingness to revisit a stalled pact.
- The current Indo-Sri Lanka Free Trade Agreement (ISFTA) came into effect in 2000 and several rounds of bilateral discussions later, Colombo and New Delhi are yet to reach an agreement on its upgraded version.
- Mr. Wickremesinghe, as Prime Minister between 2015 and 2019, attempted to sign an upgraded trade pact with India, but was unsuccessful.
Hence, option (a) is the correct answer.
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Community Answer
With reference to the Indo-Sri Lanka Free Trade Agreement (ISFTA), con...
The correct answer is option 'A', i.e. statement 1 only is correct.
Explanation:
The Indo-Sri Lanka Free Trade Agreement (ISFTA) is a bilateral trade agreement between India and Sri Lanka. Let's evaluate each statement separately:
1. The current Indo-Sri Lanka Free Trade Agreement (ISFTA) came into effect in 2000: This statement is correct. The ISFTA was signed on December 28, 1998, and it came into effect on March 1, 2000. The agreement aimed to promote bilateral trade and economic cooperation between the two countries.
2. Since 2015 both countries have a comprehensive economic and technological partnership: This statement is incorrect. As of the current information available, there is no comprehensive economic and technological partnership between India and Sri Lanka since 2015. It is possible that there might be other forms of cooperation or agreements between the two countries, but it is not related to the ISFTA.
In conclusion, only statement 1 is correct, and statement 2 is incorrect.
Explanation:
The Indo-Sri Lanka Free Trade Agreement (ISFTA) is a bilateral trade agreement between India and Sri Lanka. Let's evaluate each statement separately:
1. The current Indo-Sri Lanka Free Trade Agreement (ISFTA) came into effect in 2000: This statement is correct. The ISFTA was signed on December 28, 1998, and it came into effect on March 1, 2000. The agreement aimed to promote bilateral trade and economic cooperation between the two countries.
2. Since 2015 both countries have a comprehensive economic and technological partnership: This statement is incorrect. As of the current information available, there is no comprehensive economic and technological partnership between India and Sri Lanka since 2015. It is possible that there might be other forms of cooperation or agreements between the two countries, but it is not related to the ISFTA.
In conclusion, only statement 1 is correct, and statement 2 is incorrect.
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With reference to the Indo-Sri Lanka Free Trade Agreement (ISFTA), consider the following statements:1. The current Indo-Sri Lanka Free Trade Agreement (ISFTA) came into effect in 2000.2. Since 2015 both countries have comprehensive economic and technological partnership.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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