G-3 Free Trade Agreement

As provided for in ESTV-G2, the authorities have published the regulations on the functioning of the Regional Integration Committee for applications as well as the forms for certificates and declarations of origin. Decision 64 of the FTA-G2 Administrative Commission was published on 16 August 2011. It provides for a temporary exemption for the use of non-originating materials used in certain textiles and clothing, which confers on these products the preferential tariff treatment provided for in the Agreement. The decision was adopted with effect from 19 July 2011. India will not sign a free trade agreement (FTA) in a hurry, but will look at the world without jeopardizing the interests of domestic industry, Trade and Industry Minister Piyush Goyal said on Wednesday. He said India would conclude, on its terms, a free trade agreement or comprehensive partnership agreement and do its best for citizens and the national interest. The Group of 3 refers to a ten-year free trade agreement between Mexico, Colombia and Venezuela, which began in 1995 and lasted until 2005. The pact covers many issues, including intellectual property rights, public sector investment and the easing of trade restrictions. From the Mexican point of view, the Group of 3 has become part of a strategy to open up its trade policy in order to significantly boost exports. Group 3 allowed Mexico to use labour markets throughout the region to produce finished products that could then be sold in the United States and Canada through NAFTA. The Group of 3 has helped to strengthen Mexico`s position as Central America`s largest trading partner, although other trade agreements have likely provided much more assistance to Mexico.

The Group of 3 has weakened in part due to other regional trade agreements and bilateral agreements between Central American countries and the United States. The government is reviewing the continuation of the free trade agreement (FTA) with ASEAN, in the wake of the trade bloc`s reluctance to dispel India`s concerns about what it sees as a decades-old asymmetry in the treaty. India will take “equal and proportionate measures” to protect domestic production if other countries continue to impose restrictions or barriers on Indian goods, Trade and Industry Minister Piyush Goyal said on Friday. He also said that if some countries continue to export low-quality products or practice products or export through India`s Free Trade Agreement (FTA), India will take action. The ILO is a premium online right-raising service for large corporations and law firms around the world. Inhouse Corporate Counsel and other legal service users as well as firm partners qualify for a free subscription. The government said on Monday it would not sign free trade agreements that are actually “clandestine trade deals with China,” with Foreign Minister Saishankar criticizing some of India`s previous treaties. The Group of Three (G3) agreement was negotiated between Colombia, Mexico and Venezuela. Initially formulated within the framework of the Contadora peace process, the decision to negotiate a free trade agreement was announced at the Fifth Ministerial Conference between the countries of Central America, the members of the European Economic Community and the Contadora Group held in San Pedro Sula, Honduras, on 28 February 1999. An action plan was published on 12 March 1989. Documents relating to the deepening of the Venezuelan agreement led by Hugo Chavez decided not to continue in the group of 3 when the initial agreement was to be renewed in 2006.

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