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INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT International Peer Reviewed & Refereed Journals, Open Access Journal ISSN Approved Journal No: 2456-4184 | Impact factor: 8.76 | ESTD Year: 2016 Scholarly open access journals, Peer-reviewed, and Refereed Journals, Impact factor 8.76 (Calculate by google scholar and Semantic Scholar | AI-Powered Research Tool) , Multidisciplinary, Monthly, Indexing in all major database & Metadata, Citation Generator, Digital Object Identifier(DOI) |
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| Paper Title: | FREE TRADE AGREEMENTS – STRENGTHENING OR WEAKENING ECONOMIES? |
| Authors Name: | Prof. Sachin Bhat , Mr. Poornapradnya Pandurangi |
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| Author Reg. ID: |
IJNRD_184933
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| Published Paper Id: | IJNRD2212199 |
| Published In: | Volume 7 Issue 12, December-2022 |
| DOI: | |
| Abstract: | Free Trade Agreement is a gift of development with a dear cost to bear on the other hand. Its existence marks from the first free trade agreement, the Cobden-Chevalier Treaty, which was put in place in 1860 between Britain and France which led to successive agreements between other countries in Europe. The scope and implementation of FTA does not mere restrict to developed countries but plays a vital role in the developing economies. On the verge of introduction to WTO and the replacement of GATT, lead the system to break barriers between people and trading systems of partnering economies. While, India’s significant contribution and gains amidst the trading partners amounting to structural changes in the relations with the WTO members in and around Asia, the favorable and unfavorable impacts on the domestic producers of the goods and services, investments, government procurements etc. listed in the FTA are covered in the ambit of my study. Our approach on the FTAs within Asia and that of European Union on the contrary is to highlight the trends of economic proliferation and depletion with respect to sectoral and economy as a whole. This paper emphasizes on how the free trade agreements function and result as a catalyst to foreign affairs and relationships in Asian and European countries individually, with less or more impact on GDP, customs and duties, economic infrastructure, intellectual property rights, investments, profitability and more. This paper analyses the facts and figures from selected free trade agreements in Asia and European Union and provide remarks on the key differences between the same as in the developed and developing economies, along with bringing light on the role of trade protectionism and AATMANIRBHAR Bharat (Self-Reliant India) as a boon or bane in executing favorable FTAs in Asian and European Nations resulting in economic cooperation and trade liberalization proven positive. |
| Keywords: | Free Trade Agreements (FTA), India, developed and developing nations, World Trade Organization (WTO), Asian Countries, European Union, Economic Cooperation, Trade Liberalization, Aatmanirbhar Bharat, trade protectionism. |
| Cite Article: | "FREE TRADE AGREEMENTS – STRENGTHENING OR WEAKENING ECONOMIES?", International Journal of Novel Research and Development (www.ijnrd.org), ISSN:2456-4184, Vol.7, Issue 12, page no.b896-b913, December-2022, Available :http://www.ijnrd.org/papers/IJNRD2212199.pdf |
| Downloads: | 000118761 |
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2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar| ESTD YEAR: 2016 An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.76 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator |
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Published Paper ID:IJNRD2212199 Registration ID: 184933 Published In: Volume 7 Issue 12, December-2022 DOI (Digital Object Identifier): Page No: b896-b913 Country: Hubli, KARNATAKA, India Research Area: Commerce Publisher : IJ Publication Published Paper URL : https://www.ijnrd.org/viewpaperforall?paper=IJNRD2212199 Published Paper PDF: https://www.ijnrd.org/papers/IJNRD2212199 |
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ISSN: 2456-4184
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