Interim Trade Agreement

Interim Trade Agreement

In this article we will discuss Interim Trade Agreement

In this article, we will discuss Interim Trade Agreement. So, let’s get started.

Interim Trade Agreement (ITA)

  • An interim or early harvest trade agreement is used to liberalise tariffs on the trade of certain goods between two countries or trading blocs before a comprehensive FTA is concluded.
  • Government’s emphasis on interim agreements may be tactical so that a deal may be achieved with minimum commitments and would allow for contentious issues to be resolved later.
  • Recently, India and Australia have announced plans to conclude an ITA in March 2022.
  • India is also looking to complete an early harvest agreement with the UAE and the UK in the first half of 2022.

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