Overall, it improves economic relations between the two governments and their peoples. According to the name itself, the most obvious difference is the use of the word “cooperation” in the former and “partnership” in the latter. “Cooperation” refers to a loose bond between two countries, while the word “partnership” refers to a more personal and intense relationship between the parties. The “Guiding Principles and Objectives for the Negotiation of the RCEP”, adopted by the Ministers of Economic Affairs in August 2012, set out certain principles, such as.B. a broader and deeper commitment with significant improvements over existing free trade agreements, taking into account the individual and different situation of countries; facilitate countries` engagement in global and regional supply chains; Taking into account the different levels of development of the participating countries, etc. It also mentions areas of negotiation such as goods, services, investment, economic and technical cooperation, intellectual property, competition and dispute settlement with the possibility of identifying other areas. In addition to the ECSC, Australia and India are participating in the negotiations on the Regional Comprehensive Economic Partnership – an ASEAN-centric proposal for a free trade area that would initially include the 10 ASEAN member states and countries with existing free trade agreements with ASEAN. Some of the key issues discussed by the Working Parties are tariff modalities for goods, the list of services and investments, elements of RCEP chapters and their possible texts, intellectual property, competition, economic and technical cooperation, legal and institutional issues, customs procedures and trade facilitation, rules of origin, etc. What is the difference between stocks, stocks, bonds, securities, Treasury bonds, corporate bonds from an economic perspective? Since both agreements are economic agreements, both agreements are subject to the advantages of both countries, particularly in economic and trade terms.

ECSC and CEPA are generally conducted through economic negotiations between two countries. Once the negotiators have reached an amicable agreement on the terms, the agreement is signed by each country`s representative (in this case, the Minister of Commerce) and submitted to each country`s parliament or government for approval. Once approved, the agreement will enter into force through the application of the law by the parties and the governments of their own territories. In a comparable economic status, the ECSC is seen as the first step or stepping stone to cepa. If negotiations can still be conducted between the countries and both sides are open to discussions and have good economic relations with each other, ECSC can become CEPA. This makes CEPA the result of the ongoing efforts and negotiations of two countries that emanated from CEPA. The Regional Comprehensive Economic Partnership (RCEP) is a comprehensive free trade agreement negotiated between the 10 ASEAN member states and ASEAN partners under the Free Trade Agreement (FTA), namely Australia, China, India, Japan, Korea and New Zealand. RCEP reflects the emerging business and economic architecture around the world. It should not be seen in isolation, but in the context of other emerging comprehensive free trade agreements, namely the Trans-Pacific Partnership (TPP) and the newly established Transatlantic Trade and Investment Partnership (TTIP), in which the United States and the European Union are involved. Under comprehensive regional trade agreements around the world, the TPP would cover the western flank with TTIP as the central flank and the RCEP as the eastern flank.

Therefore, RCEP is of strategic importance to India, both in the context of its Look East policy and in the overall nature of its engagement. The ECSC is a more comprehensive agreement than the simple FTA or the PTA. FTAs and PTAs are sometimes unable to protect the country`s economy from the protectionist measures of the country with which they are concluded. China is an example of this. India is looking for an ECSC with China, but NOT a free trade agreement with this neighbour. Formal negotiations for the ECSC began in 2011 and progressed in 2014 when Prime Ministers Abbott and Modi renewed the commitment of both countries to soon reach a balanced and mutually beneficial agreement. In April 2015, Australia`s then Minister of Trade, Andrew Robb, visited India. @Admin: Thank you for the complete and prompt response. Appreciate professionalism.

Another doubt: is there a difference between corporation tax and corporation tax? Despite the differences between the two types of agreements, CEAA and CEPA encourage the economic trade and investment efforts of both countries for the benefit of both parties. These two pacts also help pave the way for more cost-effective solutions and improvements in terms of item exports, investment and quality of service. A joint expansion of economic interests and opportunities for both countries may also be possible if this is part of the terms of either agreement. I have doubts about your explanation… CEPA and the FTA are closely linked. The two are similar to each other, sir. MICECA (MALAYSIA INDIA ECSC) differs from India`s ASEAN Free Trade Agreement in its broad coverage, with the exception of goods covered by the FTA. MICECA also includes trade in services, investment and economic cooperation. The Department of Trade and Industry (MTI) issued a statement noting that Singaporeans are “naturally concerned” about competition from foreign professionals and executives (SMEs) due to the current economic situation and gloomy employment. However, it is `misleading` to assert that the number of Indian RMEs, in particular those displayed within the group, goes exclusively or largely to the ECSC. MTI also denied that “none of our free trade agreements, including this one, require us to automatically grant employment passports to every foreigner.” In addition, “all foreign nationals applying for an employment passport must meet our applicable criteria, and all companies must comply with the rules of fair hiring.” Despite the government`s clarifications on the matter, netizens remain skeptical about the free trade agreement between Singapore and India. [13] Australia and India are making progress towards the conclusion of the Comprehensive Economic Cooperation Agreement (ACTA), which is expected to significantly boost two-way investment and further strengthen bilateral economic relations.

Independent modelling from 2008 suggested that an Australian-Indian ACEC could result in a net increase in Australian GDP of up to $32 billion and Indian GDP of up to $34 billion over a 20-year period. .