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3. NEW TRADE AGREEMENT BETWEEN INDIA & BHUTAN HAS COME
INTO FORCE WITH EFFECT FROM JULY 29, 2017
New Delhi, Aug 1 (KNN) The new Agreement of Bhutanese merchandise for trade with third
on Trade, Commerce and Transit between In- countries.
dia and Bhutan has come into force with effect
from 29th July 2017. “The Agreement was last renewed on 29th July
2006 for a period of ten years. The validity of this
The Agreement provides for a free trade regime Agreement was extended, with effect from 29th
between the territories of India and Bhutan. The July 2016, for a period of one year or till the new
Agreement also provides for duty free transit agreement comes into force, through exchange
of Diplomatic notes,” Ministry of Commerce &
Industry said in a statement.
The new Agreement on Trade, Commerce and
Transit Agreement was signed on 12th November
2016 by the Minister of State (IC), Ministry
of Commerce and Industry on behalf of the
Government of India during her visit to Bhutan on
11th-13th November, 2016.
The new Agreement will further strengthen the
bilateral trade relations between India and Bhutan.
(Source:- http://knnindia.co.in/news/newsdetails/global/new-
trade-agreement-between-india-bhutan-has-come-into-force-
with-effect-from-july-29-2017 dated 1st August-2017)
4. COMMERCE MINISTER NIRMALA SITHARAMAN HOLDS 'CANDID'
TALKS WITH CHINESE COUNTERPART ON GROWING TRADE DEFICIT
HIGHLIGHTS
• India's trade deficit with China in 2015-
16 swelled to $52.68 billion, which Indian
officials say has become unsustainable
• Sitharaman sought the assistance of
Chinese ministry of commerce in reducing
the trade deficit, facilitating greater market
access
(Commerce Minister Nirmala Sitharaman in talks BEIJING: Commerce Minister Nirmala Sithara-
with her Chinese counterpart Zhong Shan. (Image: man has held "candid" talks with her Chinese
Twitter/@CimGOI ) counterpart Zhong Shan over the ballooning trade
deficit in favour of China which has crossed over
$52 billion and sought a level playing field for In-
dian IT and agro products.
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