(a) whether the Government has expanded Preferential Trade Agreements with many countries;
(b) if so, the details thereof;
(c) whether the Government is considering to offer incentives to companies for boosting exports to these countries with which the Government has expanded preferential trade agreements; and
(d) if so, the details thereof?
THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE AND INDUSTRY (INDEPENDENT CHARGE)
(SMT. NIRMALA SITHARAMAN)
(a) & (b): Yes Madam, the government has recently expanded two Preferential Trade Agreements, namely, Chile and Asia Pacific Trade Agreement (APTA). The India-Chile Preferential Trade Agreement of March, 2006 was further expanded on 6th September 2016, according to which India and Chile have offered to each other concessions on 1031 and 1784 tariff lines respectively. The 4th Round of tariff concessions under Asia Pacific Trade Agreement (APTA) was concluded on 13th January 2017, according to which tariff concessions on specified lines based on Margin of Preference have been offered by member countries to each other. The first Round of APTA was entered into force in 1975 and the current membership of APTA includes Bangladesh, China, India, Lao PDR, Republic of Korea, and Sri Lanka. Both the Agreements will come into force subject to completion of internal procedures.
(c)&(d) There are no specific schemes for promoting exports under these two Agreements, however, exporters can avail of the existing export promotion schemes for boosting exports to the countries covered under the two Agreements.
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