The South Asian Free Trade Area (SAFTA) is a 2004 agreement that created a free-trade area of 1.6 billion people in Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka with the vision of increasing economic cooperation and integration.
The Australia–New Zealand Closer Economic Relations Trade Agreement, commonly known as Closer Economic Relations (CER), is a free trade agreement between the governments of New Zealand and Australia. It came into force on 1 January 1983, but the actual treaty was not signed until 28 March 1983 by the Deputy Prime Minister of Australia and Minister for Trade, Lionel Bowen and the New Zealand High Commissioner to Australia, Laurie Francis in Canberra, Australia. This was because Malcolm Fraser and Robert Muldoon hated each other personally to such an extent that they refused to ratify the agreement if the other was there.
India-Singapore relations, also known as Indian-Singaporean relations or Indo-Singaporeanrelations, are the bilateral relations between India and Singapore. Relations between the two countries have traditionally been strong and friendly, with the two nations enjoying extensive cultural and commercial relations. India and Singapore have signed the Comprehensive Economic Cooperation Agreement (CECA) and strategic-relationship agreement in order to increase trade, investments and economic cooperation, and expanded bilateral cooperation on maritime security, training forces, joint naval exercises, developing military technology and fighting terrorism.
Foreign diplomatic relations between Australia and India are well-established, with both nations sharing a "Comprehensive Strategic Partnership" since both were part of the British Empire. Both are members of the Commonwealth of Nations, and share political, economic, security, lingual and sporting ties. Besides strong trading & migration, culture, arts, music, commercial & international sports like cricket, tennis, badminton have emerged as a strong cultural connection between the two nations. Military cooperation between Australia and India includes the regular joint naval exercise AUSINDEX.
The Comprehensive Economic Partnership Agreement (CEPA) is a free trade agreement between India and South Korea. The agreement was signed on August 7, 2009. The signing ceremony took place in Seoul and the agreement was signed by the Indian Commerce Minister, Anand Sharma and South Korean Commerce Minister, Kim Jong-Hoon. The negotiations took three-and-a-half years, with the first session being held in February 2006. The agreement was passed in the South Korean parliament on 6 November 2009. It was passed in the Indian parliament the next week. Once passed, the agreement came into effect sixty days later, on January 1, 2010. It is equivalent to a free trade agreement. The agreement will provide better access for the Indian service industry in South Korea. Services include Information technology, engineering, finance, and the legal field. South Korean car manufactures will see large tariffs cuts to below 1%. All the while, Korean corporations have flooded India with cheaper imports of raw metal, steel and finished products.
The Comprehensive Economic Partnership for East Asia (CEPEA) is a Japanese led proposal for trade co-operation, free trade agreement, among the 16 present member countries of the East Asia Summit. All those movements and efforts were taken over by the following Regional Comprehensive Economic Partnership.
The ASEAN–India Free Trade Area (AIFTA) is a free trade area among the ten member states of the Association of Southeast Asian Nations (ASEAN) and the Republic of India. The initial framework agreement was signed on 8 October 2003 in Bali, Indonesia. and the final agreement was on 13 August 2009. The free trade area came into effect on 1 January 2010. India hosted the latest ASEAN-India Commemorative Summit in New Delhi on 26 January 2018. In the financial year 2017–18, Indo-ASEAN bilateral trade grew by almost 14% to reach US$81.3 billion. India's imports from ASEAN were valued at US$47.13 billion while its exports to ASEAN stood at US$34.2 billion.
The Global System of Trade Preferences among Developing Countries(G.S.T.P) is a preferential trade agreement, currently encompassing 42 members (“participants”), signed on 13 April 1988 with the aim of increasing trade between developing countries. It was negotiated within the framework of the United Nations Conference on Trade and Development (UNCTAD). The Agreement entered into force on 19 April 1989 and was notified to the then General Agreement on Tariffs and Trade (GATT), predecessor of the World Trade Organization (WTO), on 25 September 1989. The 42 members of GSTP include as well 7 LDCs.
The Regional Comprehensive Economic Partnership is a free trade agreement among the Asia-Pacific nations of Australia, Brunei, Cambodia, China, Indonesia, Japan, South Korea, Laos, Malaysia, Myanmar, New Zealand, the Philippines, Singapore, Thailand, and Vietnam. The 15 member countries account for about 30% of the world's population and 30% of global GDP, making it the largest trade bloc in history. Signed in November 2020, RCEP is the first free trade agreement among the largest economies in Asia, including China, Indonesia, Japan, and South Korea.
The Korea–Australia Free Trade Agreement (KAFTA) is a bilateral agreement seeking to reduce trade and investment barriers between Australia and South Korea. The agreement, which came into effect on the 12th of December 2014 provides Australian goods exporters, service providers and investors with significantly improved access to the South Korean market. The trade agreement stems from decades of bilateral relations, encompassing security, trade and diplomatic ties from 1962, when then President Park Chung-Hee introduced a series of five-year plans designed to spur globalisation efforts and industrial development in Korea following the end of the Korean War.
The Japan–Australia Economic Partnership Agreement (JAEPA) is a trade agreement between Australia and Japan. The negotiations for the agreement were concluded in 2014 and it took effect on January 15, 2015.
The Comprehensive Economic Cooperation Agreement (CECA) is a free trade agreement between Singapore and India to strengthen bilateral trade. It was signed on 29 June 2005.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), also known as TPP11 or TPP-11, is a trade agreement among Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. It evolved from the Trans-Pacific Partnership (TPP), which was never ratified due to the withdrawal of the United States. The eleven signatories have combined economies representing 13.4 percent of global gross domestic product, at approximately US$13.5 trillion, making the CPTPP one of the world's largest free-trade areas by GDP, along with the United States–Mexico–Canada Agreement, the European single market, and the Regional Comprehensive Economic Partnership.
The Morrison government was the federal executive government of Australia, led by Prime Minister Scott Morrison of the Liberal Party of Australia, between 2018 and 2022. The Morrison government commenced on 24 August 2018, when it was sworn in by the Governor-General of Australia. It was composed of members of the Liberal–National Coalition and succeeded the Abbott (2013–2015) and Turnbull (2015–2018) coalition governments in office, competing against the Australian Labor Party as the major Opposition party. Nationals Leader Michael McCormack was Deputy Prime Minister of Australia from the formation of the Morrison government until June 2021. He was replaced as Leader of the Nationals and Deputy Prime Minister by Barnaby Joyce.
The Timor-Leste–Indonesia–Australia Growth Triangle (TIA-GT) is a combined initiative of the regions of Eastern Indonesia, Northern Australia, and the Democratic Republic of Timor-Leste. This initiative aims to promote and foster economic growth through integrated economic development in the region that these nations reside in. The growth triangle was created in 2012, after a meeting was held by former Indonesian president Susilo Bambang Yudhoyono with former Prime Minister of Australia Julia Gillard and former Timor-Leste Prime Minister Xanana Gusmao. The initiative aims to support economic, social, and cultural development primarily by attracting investment, developing manufacturing industries, enhancing human capital, and overall building a stronger cooperative relationship between the three countries involved. The initiative also aimed to accelerate the accession of Timor-Leste into the Association of Southeast Asian Nations (ASEAN) and to fulfill goals set by Timor-Leste's Strategic Development Plan, such as increasing the nation's economic prosperity and stability. The growth triangle is often misinterpreted as a free-trade zone; however, while there are elements of free trade agreements between Indonesia and Australia specifically, the terms of the growth triangle initiative are not directly linked to these free trade agreements, and the goals of the growth triangle do not specifically encompass free trade between the three nations.
The Australia–United Kingdom free trade agreement was signed 17 December 2021. The broad terms of the agreement had been agreed six months earlier, following almost a year of negotiations. It was the first trade agreement signed by Britain since leaving the European Union that was negotiated completely anew.
India is party to free trade agreements (FTAs) and other trade agreements with many countries and trade blocs, and is negotiating with many others. As of 2022, India has preferential access, economic cooperation and FTA with more than 50 individual countries.
"Economic Cooperation and Trade Agreement" is the first trade agreement between India and Australia. Piyush Goyal Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles said while addressing a press conference on the ECTA. Australia has approved the trade pact between these two countries in its Parliament.
