Sub-subject: Trade Relations India-Andean Community. Syllabus:
- Foreign Trade between India and the Andean Community.
- Agreement to set up a mechanism for political consultation and cooperation between India and the Andean Community.
- Trade Relations between India and Venezuela.
- Proposed free trade agreement (FTA)
Sample of the sub-subject: India-Andean Community (Trade Agreement)
Sub-Subject Description: Agreement India-Andean Community:
On June 2003, the Andean Community and India established a Political Dialogue and Cooperation Mechanism
with the goal of strengthening and diversifying their friendship, understanding, and cooperation and developing mutual
bilateral trade and foreign direct investment relations.
A draft of the Free Trade Agreement (FTA) has been forwarded to the Andean Community Secretary-General but is not entered into force.
Foreign Trade between India and the Andean Community.
- International Trade between the Andean Community (Bolivia, Colombia, Ecuador, and Peru)
and the Republic of India: 1,519 million dollars (+ 1% over the previous year).
- In the last decade, the annual trade balance was negative for the Andean Community.
- The Andean Community exports to India: 568 million dollars.
- The main Andean Community exporter to the Republic of India was the Republic of Colombia.
- Exports from Colombia to India: 449 million dollars (79% of the Andean Community exports to India).
- Andean Community imports from the Republic of India: 951 million dollars.
- The Republic of Colombia is the Andean Community nation with the biggest level of imports from India
(504 million dollars).
- Top exports products from India to Venezuela
are pharmaceuticals, engineering products, petroleum coke, textiles, equipment, chemicals, and machinery
Andean Countries belongs to the Western Civilisation (Latin American Economic Area) and India to the economic
area of the Hindu Civilisation.
India's Free Trade Agreements (FTA)