Match the column

Match the List-I with List-II:

List-I (Trade Agreement Types):	List-II (Description):
A. Early Harvest Scheme (EHS)	I. Two or more parties give right of entry to certain products by reducing duties on an agreed number in tariff lines
B. Comprehensive Economic Partnership Agreement (CEPA)	II. In which two or more countries agree to provide trade terms, tariff concession to partner country/ies
C. Preferential Trade Agreement	III. A precursor of CECA, thus a step towards enhanced engagement and confidence building
D. Free Trade Agreement	IV. Looks into the regulatory aspect of trade and encompasses an agreement on customs, competition & IPR

Codes:

Correct option is A

· A. Early Harvest Scheme (EHS) → III (A precursor of CECA, thus a step towards enhanced engagement and confidence building): EHS serves as a confidence-building measure to lay the groundwork for a Comprehensive Economic Cooperation Agreement (CECA).
· B. Comprehensive Economic Partnership Agreement (CEPA) → IV (Looks into the regulatory aspect of trade and encompasses an agreement on customs, competition & IPR): CEPA extends beyond trade in goods and services, addressing regulatory aspects like customs, competition, and intellectual property rights.
· C. Preferential Trade Agreement → I (Two or more parties give right of entry to certain products by reducing duties on an agreed number in tariff lines): PTAs provide tariff concessions for select goods between member countries.
· D. Free Trade Agreement → II (In which two or more countries agree to provide trade terms, tariff concession to partner country/ies): FTAs aim for broader tariff eliminations across a wide range of goods and services.
Information Booster
· Early Harvest Scheme: It builds trust among countries before entering deeper economic partnerships.
· Comprehensive Economic Partnership Agreement: Encompasses areas like investment, intellectual property, and dispute resolution mechanisms.
· Preferential Trade Agreement: Limited in scope and applies to a few tariff lines.
· Free Trade Agreement: Eliminates tariffs and trade barriers comprehensively between member countries.
Additional Knowledge
1. India’s EHS Example: The Early Harvest Scheme with Thailand focused on reducing tariffs on specific products to boost bilateral trade.
2. FTA Examples: ASEAN-India FTA, India-Sri Lanka FTA.
3. Difference Between CEPA and CECA: CEPA has a broader scope, including investments, while CECA focuses more on trade liberalization.