The document discusses international trade between India and Russia. It provides details about key areas of cooperation such as:
- BHEL looking to build thermal power plants in Russia and India providing aid for a nuclear power plant project in Russia.
- An Indian oil company awarding a contract to a Russian seismic services firm to conduct surveys in India.
- Agreement to jointly develop a 5th generation fighter aircraft between the two countries.
- Bilateral trade growing from $8.87 billion in 2011 to $11.04 billion in 2012, towards the target of $20 billion by 2015.
- Defense cooperation being an important pillar of the strategic partnership between India and Russia.
International trade is distorted by countries applying tariff and non tariff trade barriers.
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We will first look at the world trading system as it has evolved under the General Agreement on Tariffs and Trade (GATT) and the establishment ot a permanent international institution known as the World Trade Organization (WTO).
International trade is distorted by countries applying tariff and non tariff trade barriers.
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We will first look at the world trading system as it has evolved under the General Agreement on Tariffs and Trade (GATT) and the establishment ot a permanent international institution known as the World Trade Organization (WTO).
The trade theory that first indicated importance of specialization in production and division of labor is based on the idea of theory of absolute advantage which is developed first by Adam Smith in his famous book The Wealth of Nations published in 1776.
Smith argued that it was impossible for all nations to become rich simultaneously by following mercantilism because the export of one nation is another nation’s import and instead stated that all nations would gain simultaneously if they practiced free trade and specialized in accordance with their absolute advantage. Smith also stated that the wealth of nations depends upon the goods and services available to their citizens, rather than their gold reserves. While there are possible gains from trade with absolute advantage, the gains may not be mutually beneficial. Comparative advantage focuses on the range of possible mutually beneficial exchanges.
Adam Smith argued that a country has an absolute advantage in the production of a product when it is more efficient than any other country producing it.
Countries should specialize in the production of goods for which they have an absolute advantage and then trade these goods for the goods produced by other countries
In economics, principle of absolute advantage refers to the ability of a party (an individual, or firm, or country) to produce more of a good or service than competitors, using the same amount of resources.
The theory of comparative advantage, first developed by English economist David Ricardo in 1817, is a theory about the potential gains from trade for companies, countries or people that arise on account of differences in factor endowments or technological progress.
international trade theory
,
why is free trade beneficial
,
what role does government have in trade
,
what is mercantilism
,
what is the heckscher-ohlin theory
,
how does the theory of absolute advantage work
,
is a current account deficit bad
,
what is smith’s theory of absolute advantage
,
what is the balance of payments
,
what is new trade theory
,
what is ricardo’s theory of comparative advantage
This presentation is made by Palm & Latex Technology & Value Addition degree programme students in Uva Wellassa University of Sri Lanka as to fulfill a requirment for their course of Trade & Finance. In this presentation is generally related to Sri Lanka.
India looks at regional trading arrangements (RTAs) as “building blocks” towards the overall objective of trade liberalization. Therefore, it is participating in a number of RTAs which include structures such as free trade agreements (FTAs), preferential trade agreements (PTAs), and comprehensive economic cooperation agreements (CECAs).
Free Trade Agreement
A free trade agreement among two countries or group of countries agrees to abolish tariffs, quotas and preferences on most of the goods (if not all) between them. Countries choose an FTA if their economical structures are complementary, not competitive.
The trade theory that first indicated importance of specialization in production and division of labor is based on the idea of theory of absolute advantage which is developed first by Adam Smith in his famous book The Wealth of Nations published in 1776.
Smith argued that it was impossible for all nations to become rich simultaneously by following mercantilism because the export of one nation is another nation’s import and instead stated that all nations would gain simultaneously if they practiced free trade and specialized in accordance with their absolute advantage. Smith also stated that the wealth of nations depends upon the goods and services available to their citizens, rather than their gold reserves. While there are possible gains from trade with absolute advantage, the gains may not be mutually beneficial. Comparative advantage focuses on the range of possible mutually beneficial exchanges.
Adam Smith argued that a country has an absolute advantage in the production of a product when it is more efficient than any other country producing it.
Countries should specialize in the production of goods for which they have an absolute advantage and then trade these goods for the goods produced by other countries
In economics, principle of absolute advantage refers to the ability of a party (an individual, or firm, or country) to produce more of a good or service than competitors, using the same amount of resources.
The theory of comparative advantage, first developed by English economist David Ricardo in 1817, is a theory about the potential gains from trade for companies, countries or people that arise on account of differences in factor endowments or technological progress.
international trade theory
,
why is free trade beneficial
,
what role does government have in trade
,
what is mercantilism
,
what is the heckscher-ohlin theory
,
how does the theory of absolute advantage work
,
is a current account deficit bad
,
what is smith’s theory of absolute advantage
,
what is the balance of payments
,
what is new trade theory
,
what is ricardo’s theory of comparative advantage
This presentation is made by Palm & Latex Technology & Value Addition degree programme students in Uva Wellassa University of Sri Lanka as to fulfill a requirment for their course of Trade & Finance. In this presentation is generally related to Sri Lanka.
India looks at regional trading arrangements (RTAs) as “building blocks” towards the overall objective of trade liberalization. Therefore, it is participating in a number of RTAs which include structures such as free trade agreements (FTAs), preferential trade agreements (PTAs), and comprehensive economic cooperation agreements (CECAs).
Free Trade Agreement
A free trade agreement among two countries or group of countries agrees to abolish tariffs, quotas and preferences on most of the goods (if not all) between them. Countries choose an FTA if their economical structures are complementary, not competitive.
watch on youtube: http://www.youtube.com/watch?v=jITLRiDkXQE
Presentation given at the "Global and European Studies Institute - Universität Leipzig" as part of the seminar "Regional Powers: Fundamentals, Strategies, Theories"
In December 2013, David spoke at a session at the Houses of Parliament for the ‘Emerging Powers, International Development and Foreign Aid: What role for the UK?’ seminar series. This seminar addressed questions such as: what responses are needed in aid, trade, private sector engagement, climate change negotiations and diplomacy? Does the UK need to reframe its aid policies or foster new partnerships or identify policy lessons to transfer from the BRICs?
BWPI colleagues Armando Barrientos, Stephanie Barrientos and Kunal Sen also spoke at the Houses of Parliament event.
Trade, Antitrust and Other Regulatory Matters in BRICSIlya Nikiforov
Investments in BRICS: Business Perspectives and Legal Frameworks. IBA: Investments in BRICS. February 2013. Session: Trade, Antitrust and Other Regulatory Matters in BRICS. Ilya Nikiforov
This presentation was made at Chatham House on 14 October 2014 by Dr Jing Gu. She presented evidence from the IDS Rising Powers in International Development programme work on how China engages in international development. More info available at: www.ids.ac.uk/risingpowers
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Analysis of top 5 trading partners of India, how much does India trade with the respective countries and what's will be the future growth in terms of trade between the countries.
Impact of TICFA Agreement and Cancellation of GSP Scheme: A Case Study from B...inventionjournals
Bangladesh is considered now as a role model for the other countries of its tremendous success for the period of last two decades due to its gradual development on the national economy. The country passed its time with various droughts, flood, industrial disputes, political unrest and other problems. The US government has an intention and effort for a couple of decades to make bilateral relation and increasing the purview of trade in Bangladesh through the TICFA agreement. At last, they convinced Bangladesh government and succeeded in the year of 2013. On the other hand, at the time of signing the agreement, the government of Bangladesh thought that they would regain the GSP benefit using TICFA agreement as a tool. The instant study reflects the backdrop of Bangladesh analyzing the TICFA agreement in the light of its positive and negative impacts. Besides this, the study also made an attempt at finding out the reasons for cancelling GSP benefit and interprets the present status of GSP comparing the other countries position.
TRADE RELATION BETWEEN INDIA AND AUSTRALIA IN GENERAL AND EXPORT OF GOLD FROM...IJCI JOURNAL
Recent years have seen remarkable growth in the trading relationship between India and Australia, fuelled by the many complementarities between the two economies. Over the past five years, bilateral trade in goods and services has increased by 24 per cent annually to US$16 billion in 2008-09. Two-way investment is also significant, estimated at over US$1.5 billion including portfolio investment in 2008. Against this backdrop, Australia and India agreed in April 2008 to undertake a feasibility study for a possible bilateral free trade agreement (FTA) to explore the scope for building an even stronger economic and trade relationship.1 The feasibility study shows that significant barriers to goods and services trade remain in both countries. An FTA between India and Australia would be expected to address tariff and non-tariff barriers. It would go beyond each country’s commitments in the World Trade Organization (WTO) and cover substantially all trade in goods. Services liberalisation would seek to remove barriers that impose additional costs on exporters and erode competitiveness. A possible FTA would be expected to have substantial services sector coverage. Australia-India investment flows are modest relative to bilateral trade, reflecting both regulatory and other impediments and, to some extent, a lack of awareness of business opportunities in the other country. A possible FTA may address this imbalance by removing – or reducing – existing restrictions in both foreign investment regimes. It could also focus on enhancing transparency and strengthening investment protection mechanisms. A comprehensive FTA offers scope to take the relationship to the next level to the mutual advantage of both economies. It could foster even stronger growth, including through more diverse trade and investment flows. Cooperation, capacity building and exchange of information on other issues such as the protection of intellectual property rights (covering all issues including TRIPS & CBD, and GIs inclusive of non-food GIs), SPS & TBT matters, competition policy and government procurement could also be considered during possible FTA negotiations. In order to make an assessment of the possible trade gains from the proposed FTA, independent economic modelling was commissioned in both the countries for the study. The results provide insights into how an FTA might impact on bilateral trade and investment flows as well as economic welfare. Economic modelling is necessarily based on certain assumptions and the results of the modelling for this study should be regarded as indicative rather than exact estimates. Different economic modelling methods, GTAP-CGE modelling and modelling based on an analysis of complementarily, were used in the study to estimate the welfare gains to both countries.
About PTA, Indian PTA, level of economic integration, Pros cons, Unilateral, bilateral and multilateral, indian few PTA, FTA, Chile, Mercosur, Malaysia, AFGHANISTAN, TAHILAND, BANGLADESH, JAPAN.
COMMODITY FUTURES AS AN INVESTMENT AVENUEAditya Arora
A report on the growth of the commodity futures market has been significant in terms of both network and volume since the inception of the market about a decade ago. At present, there is a two-level formation for Commodity Exchanges in India: Regional and Country-Wide. The regional exchanges are permitted to trade in restricted commodities (which are clearly specified for each regional exchange) and their membership is local. On the other hand, the countrywide exchanges are electronic with demutualized ownership and offer a wide bouquet of contracts for trading purposes. The three premier countrywide commodity exchanges in India are MCX (Multi Commodity Exchange), NMCE (National Multi Commodity Exchange) and NCDEX (National Commodities and Derivatives Exchange). The MCX occupies over 80% of the market share in India and finds its place in the top ten commodity exchanges in the world.
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
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Normal labor is also termed spontaneous labor, defined as the natural physiological process through which the fetus, placenta, and membranes are expelled from the uterus through the birth canal at term (37 to 42 weeks
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Embracing GenAI - A Strategic ImperativePeter Windle
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2. BRICS
Nuclear power
FTP
Space program
Defense
Russia china defense
barriers
3. It is the exchange of Capital goods, and services
across International Borders or territories.
Increasing international trade is crucial to the continuance
of globalization.
Without International trade, nations would be limited to the
goods and services produced within their own borders.
4.
5. It is conducted within the political and geographical boundaries of a
country.
It can be at local level, regional level or national level.
Trade carried on among traders of Delhi, Mumbai, etc. is called home
trade.
Wholesale Trade : It involves buying in large quantities from producers
or manufacturers and selling in lots to retailers for resale to
consumers.
Retail Trade : It involves buying in smaller lots from the wholesalers
and selling in very small quantities to the consumers for personal use
6. It refers to buying and selling between two or more countries
Export Trade : When a trader from home country sells his goods to a
trader located in another country, it is called export trade. For e.g. a
trader from India sells his goods to a trader located in China.
Import Trade : When a trader in home country obtains or purchase
goods from a trader located in another country, it is called import trade.
For e.g. a trader from India purchase goods from a trader located in
China.
Entrepot Trade : When goods are imported from one country and then
re-exported after doing some processing, it is called entrepot trade
7. Memorandum of Understanding
Non-Disclosure Agreement
Teaming Agreement
Material Transfer Agreement
Master Agreement
Subaward
IPA
Consultant Agreement
8. A trade agreement which is also know as Trade Pact is a wide ranging
tax, tariff, and trade treaty that often includes investment guarantees.
Any contractual arrangement between countries concerning their trade
relations.
Trade agreements may be bilateral or multilateral, that is, between two
countries or more than two.
The most common trade agreement are of the preferential and free
trade type.
They are rules and regulations that govern trade. They are rules and
regulations that every Nation breaks. They are also very controversial.
10. It is a trading bloc that gives preferential access to certain
product from the participating countries.
This is done by reducing tariffs but not by abolishing them
completely.
A PTA can be established through a trade pact.
It is the first stage of economic integration.
The line between a PTA and a free trade area (FTA) may be
blurred, as almost any PTA has a main goal of becoming a FTA
in accordance with the General Agreement on Tariffs and Trade
11. A multilateral trade agreement involves three or
more countries who wish to regulate trade between
the nations without discrimination.
States get involved in multilateral agreements
because the responsibilities and risks are
distributed among the group and thus the
situation is more advantageous for individual
12. A bilateral agreement is made between two and
only two states. The agreement can be political,
military or economic.
The major reason states might pursue bilateral
agreements is because it is easier to negotiate
with just one country rather than with several.
13. Multilateral
1. Asia-Pacific Trade Agreement
(1976)
2. Global System of Trade Preferences
among Developing Countries (GSTP)
(1989)
3. Protocol on Trade Negotiations
(1973)
Bilateral
1. India-Afghanistan (2003)
2. India Mauritius
3. India-Nepal(2009)
4. India-Chile(2007)
5. India-Mercosur(2009)
14. It is a trade bloc whose member countries have signed
a free-trade agreement (FTA), which eliminates tariff, import
quotas, and preferences on most goods and services traded
between them.
It can be considered the second stage of economic
integration.
Countries choose this kind of economic integration if their
economic structures are complementary
15. Bilateral
1. India-Malaysia(separate from
FTA agreement with ASEAN)
2. India-Sri Lanka
3. India-Singapore
4. India-Canada(negotiation on
going)
Multilateral
1. ASEAN Free Trade Area
2. South Asian Free Trade Area
16. The World Trade Organization (WTO) is an
organization that intends to supervise
and liberalized international trade
The WTO oversees about 60 different agreements
which have the status of international legal texts
Member countries must sign and ratify all WTO
agreements on accession
17. Agreement on Agriculture.
Agreement on technical barriers to trade.
Agreement on Anti-Dumping.
Agreement on Custom Valuation.
Agreement on Rules of Origin.
18.
19. President- Mr Pranab Mukherjee.
Minister of commerce – Mr Anand Sharma.
The GDP for the entire FY13 grew at 5%.
The economy of India is the 9th largest in the world by nominal
GDP and the 3rd largest by Purchasing Power Parity (PPP).
Reserves of foreign exchange and gold- $287.2 billion (31 December
2012 est.)
Stock of direct foreign investment- $256.6 billion (31 December
2012 est.)
21. Exports- $309.1 billion(2012 est.)
Exports Goods- Petroleum products, precious stones, machinery, iron and steel,
chemical ,vehicles, apparels
Exports Partners- UAE 12.7%, US 10.8%, China 6.2%, Singapore 5.3%, Hong
Kong 4.1% (2011)
Imports- $488.6 Billion (est. 2012)
Imports Goods- Crude Oil, Raw precious stones, Machinery, Fertilizers ,Iron and
Steel, Chemicals.
Imports Partners- China 11.9%, UAE 7.7%, Switzerland 6.8%, Saudi Arabia
6.1%, US 4.9%.
Trade deficit - $191.6 billion.
India has trade deficit with 80 countries.
22.
23.
24. President- Mr. Vladimir Putin
Capital- Moscow
Economy of Russia is the 8th largest economy in
the world by nominal value 6th/5th largest by
Purchasing Power Parity(PPP)
The Gross Domestic Product (GDP) in Russia
expanded 1.60 percent in the first quarter of 2013.
25. Complete range of mining and extractive.
Industries producing coal, oil, gas, chemicals, and
metals.
All forms of machine building from rolling mills to
high-performance aircraft and space vehicles.
Defense industries including radar, missile
production, and advanced electronic components,
shipbuilding.
26. Road and rail transportation equipment.
Communications equipment.
Agricultural machinery, tractors, and construction
equipment.
Electric power generating and transmitting equipment;
medical and scientific instruments; consumer durables,
textiles, foodstuffs, handicrafts
27. Exports- $542.5 billion (2012 est.)
Exports Goods- petroleum and petroleum products, natural gas,
metals, wood and wood products, chemicals, and a wide variety of
civilian and military manufactures
Imports-$358.1 billion (2012 est.)
Import goods machinery, vehicles, pharmaceutical products, plastic,
semi-finished metal products, meat, fruits and nuts, optical and
medical instruments, iron, steel
Gross external debt $455.2 billion (2012 est.)
28.
29.
30. India, Russia mull free trade agreement.
BHEL looking to build thermal power units in Buryatia.
India’s aid on KNPP’s spent nuclear fuel.
Russia’s IG Seismic wins 3-D seismic contract in Rajasthan.
Russian Railways keen to participate in Indian track
electrification.
India-Russia FGFA PAK T-50 Agreement.
India-Russia bilateral trade crosses US$ 11 billion in 2012.
India-Russia Defence Cooperation.
Agriculture Cooperation Program.
31. The total trade between the two countries
currently stands at $8.5 billion.
Indian investments in Russia stand at $5
billion while that of Russia in India stand at
$3.5 billion.
Common target is to achieve $20 billion in
trade by 2015
32. BHEL looking to build thermal power units in
Buryatia.(14.June.2013)
two thermal power plant units
The first phase of the project involves the construction of two power
units with a capacity of 240 MW each.
India’s aid on KNPP’s spent nuclear fuel
◦ Construction on the plant began on 31 March 2002
◦ The first reactor of the plant attained criticality on 13 July 2013
◦ The plant was commissioned six years after the scheduled date
◦ he original cost of the two units was 13,171 crore
◦ but it was later revised to 17,270 crore
◦ Russia advanced a credit of 6,416 crore to both the units.
33.
34. ◦ Cairn India Ltd has awarded a two-year contract for a 3-
dimensional seismic survey of its prolific Rajasthan oil block to
Russian firm IG Seismic Services for an undisclosed sum.
◦ The works may cover over 1,500 square kilometers
◦ he start of works is planned for the beginning of October 2013
◦ Cairn, which holds 70 per cent in the Rajasthan block, had
previously announced an investment of $ 2.4 billion in the block
by 2015-16
◦ State-owned Oil and Natural Gas Corp (ONGC) holds the remaining 30 per cent
interest in the block
35.
36. The Sukhoi/HAL Fifth Generation Fighter
Aircraft (FGFA) is a fifth-generation fighter being
developed by India and Russia
50:50 joint venture total of 500 Aircraft
FGFA) for the Indian Air Force
Russian fifth generation fighter, code-named T-50
Program costed US$ 30 billion
Unit costed US$100 million
37.
38. India-Russia bilateral trade, which stood at US$
7.46 billion in 2009, US$ 8.53 billion in 2010,
and US$ 8.87 billion in 2011, has spurted to
US$11.04 billion in 2012, registering a 24.5%
growth in 2012 compared to 2011.
the target of US$ 20 billion for India-Russia
trade set for 2015
39. Defense cooperation is an important pillar of the India-Russia strategic
partnership
It is guided by the Program for Military Technical Cooperation signed
between the two countries which is valid, at present till 2020.
Bilateral projects currently underway include indigenous production of
T-90 tanks and Su-30-MKI aircraft, supply of MiG-29-K aircraft and
Kamov-31 and Mi-17 helicopters, upgrade of MiG-29 aircraft repair and
refit of the aircraft carrier INS Vikramaditya and supply of Multi-Barrel
Rocket Launcher Smerch.
Lease of Submarines
40. Integrated Long Term Program (ILTP) of Cooperation in Science & Technology.
1. Advanced Research Centre for Powder Metallurgy and New Materials
(Hyderabad)
2. Polio & other Vaccine Manufacturing (Bulandshahr) Facility
3. Indo-Russian Centre for Advanced Computing Research (Moscow)
4. Indo-Russian Centre for Biotechnology (Allahabad)
5. Indo-Russian Centre for Gas Hydrates Studies (Chennai)
6. Indo-Russian Centre for Earthquake Research (New Delhi):
7. Russian Indian Centre on Ayurvedic Research (Moscow)
8. Indo-Russian Centre for Biomedical Technology (Thiruvananthapuram).
9. Indo-Russian Centre on Non-Ferrous Metallurgy (Jamshedpur)
10. http://www.indianembassy.ru/index.php/en/science-technology/indo-
russian-s-t-cooperation
41.
42. President- Mr. Xi Jinping
Capital- Beijing
2nd largest economy (nominal) and 2nd largest
in Purchasing Power Parity(PPP).
GDP growth by 7.8%.
FDI stock $116 billion.
43. World leader in gross value of industrial output
Mining and Ore processing
Iron, Steel, Aluminum, and other metals
Coal
Machine building
Textiles and Apparel
Petroleum; Cement; Chemicals; Fertilizers
Consumer products
Transportation Equipment, including Automobiles, Rail cars and Locomotives, Ships,
and Aircraft; Telecommunications Equipment, Commercial Space launch vehicles,
Satellites
44. Exports-$2.021 trillion (2012 est.)
Export goods-Electrical and other machinery, including data
processing equipment, apparel, textiles, iron and steel,
optical and medical equipment.
Imports-$1.78 trillion (2012 est.)
Import goods-Electrical and other machinery, oil and mineral
fuels, optical and medical equipment, metal ores, plastics,
organic chemicals.
45.
46.
47. In 2012, bilateral trade was USD 66 billion a decline from USD 74
billion in 2011.
The two countries have set a target of USD 100 billion by 2015 for
bilateral trade.
The signing of the MoUs between India and China is a good
beginning to address the issues India is raising with China from
time to time
India has been finding it difficult to expand its trade with China in
the pharmaceutical sector due to the complex registration process
and prolonged timelines
The average imports of medicinal and pharmaceutical products from
China during the last five years were $4,332.37 million vis-a-vis
exports from India of $692.44 million.
48. By end 2011, India's trade deficit was USD 27 billion.
According to Chinese trade figures released in January 2013,
the figure expanded to USD 29 billion by 2012.
As per Chinese figures, cumulative Chinese investments into
India till December 2011 stood at USD 575.70 million while
Indian investments into China were USD 441.70 million.
49. India-China Signed 8 MOU:-
1. The Kailash Mansarovar Yatra to the Tibet Autonomous
Region of China.
2. Work Programs of the Three Working Groups under Joint
Economic Group.
3. MOU on Buffalo Meat, Fishery Products and Agreement on
Feed and Feed Ingredients.
4. MOU on Cooperation in the field of Sewage Treatment.
50. 5. MOU in the field of Water Efficient Irrigation.
6. MOU on Cooperation in Mutual Translation and
Publication of Classic and Contemporary Works.
7. MOU upon Provision of Hydrological Information of
the Yaluzangbu/Brahmaputra River in Flood Season
by China to India.
8. MOU to facilitate cooperation and linkages between
Indian and Chinese cities & states/provinces
51. India's trade deficit with China is $40 billion
24% slump in Indian exports
http://www.thehindu.com/business/Economy/24-slump-in-indian-exports-highlights-china-trade-
barriers/article4696235.ece)
52.
53. Russia and China agree $270bn oil deal.
China-Russia currency agreement further threatens
U.S. dollar.
Russian-Chinese trade to reach 100 billion dollars by
2015.
Russia reopens railway crossing from Maritime
Territory to China
Russia ramps up seafood exports to Asia Pacific(more
than 40 per cent in the first half of 2013.).
54.
55. Russia-India-China perceives that in today’s world, it
is important to discuss the challenges of global
security and stability.
The diverse threats and risks cannot be addressed by
military power alone but need to be appraised
through political, social and economic prisms.
The population of these three countries together
amounts to around 2.4 billion, 40 percent of the
world’s total population. They cover a total area of
29.96 million square kilometers which is 22.5 per
cent of the total area of the world. Undoubtedly, the
three countries have great human resources, huge
potential of market and rich endowment of natural
resources
56. Russia, India, China have agreed to provide
credit to each other in local currencies. (BRICS
March 29, 2012)
Establishing effective foreign-policy and economic
cooperation in the trilateral Russia-India-China format
Alliance framework aimed at countering the US
influence.
Need for a Multi-Polar International System
59. Nuclear reactors, boilers, machinery
Cereals
Iron and steel
Electrical, electronic equipment
Salt, sulphur, earth, stone, plaster, lime and
cement
Cotton
60. Oil
Natural gas
Phosphates
Cocoa
Chemicals
Chemical fertilizers
61. West Africa Economic and Monetary Union (UEMOA)-
Benin, Burkina Faso, Cote d'Ivoire, Guinea-Bissau, Mali,
Niger, Senegal & Togo
Economic Community of west Africa States (ECOWAS)-
Benin, Burkina Faso, Cape Verde, Cote d'Ivoire, the
Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali,
Mauritania, Niger, Nigeria, Senegal, Sierra Leone & Togo
62. Central Africa Customs and Economic Union (UDEAC)-
Cameroon, the Central Africa Republic, Chad, the Republic of
Congo, Equatorial Guinea & Gabon
Ghana – Netherlands
Ghana-EU
United States-Morocco FTA
Trade Blocs
63. South Sudan-American Friendship and Trade Association
Sudan Chamber of Commerce, Industry and Agriculture
AEC – African Economic Community
EU-Egypt Association Agreement
65. Free trade within the bloc
Economies of scale
Market access and trade creation
Jobs
Protection
66. Loss of benefits
Distortion of trade
Inefficiencies and trade diversion
Retaliation
67. Intra African Trade – 12% only
Poor Infrastructure
Limited national markets
Poverty
68.
69. Scheme for Least Developed Countries (LDCs)
DFTP Scheme provides duty free and
preferential market access on tariff lines that
constitute 92.5 % of global exports of LDCs.