European Free Trade Agreements

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The free trade agreements in India affected businesses largely by opening new markets for them. They made the process of trading relatively smoother and eased companies’ costs, helping them compete more effectively.

Some of the largest free trade agreements by India include:

India-ASEAN Free Trade Agreement: It was signed in 2009, making trade between India and ten ASEAN countries possible. Tariffs on numerous goods were lowered, improving Indian exports in industries such as textiles, pharmaceuticals, and electronics.
India-Sri Lanka Free Trade Agreement (ISFTA): It is a bilateral agreement under which most Indian exports enjoy duty-free access in Sri Lanka, thus creating an amiable climate for trade and investment.
India-Japan Comprehensive Economic Partnership Agreement (CEPA): This agreement, established in 2011, strengthened economic ties with Japan and opened avenues for increased trade in goods, services, and investments, especially hong kong phone number list in the areas of technology and automotive.
India-UAE Comprehensive Economic Partnership Agreement (CEPA): This agreement, signed in 2022, has removed duties on 80% of India’s exports to the UAE, including apparel, textiles, and electronics. Indian SMEs and exporters have benefited a lot from this agreement.

The European Free Trade Agreement, or EFTA, is a trade bloc formed in 1960 that includes countries such as Iceland, Liechtenstein, Norway, and Switzerland. EFTA nations have concluded numerous free trade agreements with other countries worldwide, such as Canada, Japan, and South Korea, and thereby forged an intricate network of trading relations. Though EFTA countries are not members of the EU, their treaties with the EU strengthen access to their markets and increase economic collaboration.

European FTAs benefit from increasing market growth and economic stability, allowing business expansion and product diversification.