Abstract
SEZs and regional trade agreements (RTAs) can help to liberalise and facilitate trade. While both of them focus on the removal of trade barriers, their objectives are different. SEZs focus on improving a country’s export competitiveness, while RTAs focus on removing barriers to trade between trading partners. Hence, the two polices can be in conflict. This chapter discusses how India can synergise its SEZ policy with its bilateral and regional trade agreements and maximise the benefits for its industries.
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Notes
- 1.
WTO website. http://www.wto.org/english/tratop_e/region_e/region_e.htm (accessed on 4 June 2014).
- 2.
For details, see https://www.wto.org/english/tratop_e/region_e/regatt_e.htm (accessed on 21 July 2015).
- 3.
See Bhagwati (2008) and Hoda (2010) for further discussion.
- 4.
This is not geographical south. ‘South’ refers to the economic south or developing countries. Similarly, ‘North’ refers to the economic north or developed countries.
- 5.
A proposed trade agreement between the USA and other countries such as Chile, Peru, Australia, Malaysia, New Zealand, Singapore, Japan and Vietnam. Some of these countries already have trade agreements with India.
- 6.
http://commerce.nic.in/ann/StrategicPlan.pdf (accessed on 15 October 2015).
- 7.
Some of these analyses can be found in Trade Policy and WTO Newsletter published by ICRIER and available at http://www.icrier.org/page.asp?MenuID=693 (accessed on 15 October 2015).
- 8.
http://indiabudget.nic.in/ub2015-16/bs/bs.pdf (accessed on 15 October 2015).
- 9.
- 10.
Reports indicate that since 2001, hourly manufacturing wages in China have risen by an average of 12 % a year and many companies are finding that Chinese wages are no longer competitive. Despite the increase in productivity of workers in China, several companies are planning to relocate to other nearby lower-wage countries. See ‘The future of Factory Asia: A tightening grip’, The Economist, 14 March 2015.
- 11.
See http://stat.wto.org/CountryProfile/WSDBCountryPFView.aspx?Country=IN&Language=F (accessed on 15 October 2015).
- 12.
http://archive.financialexpress.com/news/sez-export-numbers-rely-heavily-on-ril-jamnagar-unit/1088896 (accessed on 15 October 2015).
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© 2016 Indian Council for Research on International Economic Relations (ICRIER)
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Mukherjee, A., Pal, P., Deb, S., Ray, S., Goyal, T.M. (2016). Special Economic Zones and Regional Trade Agreements. In: Special Economic Zones in India. India Studies in Business and Economics. Springer, New Delhi. https://doi.org/10.1007/978-81-322-2806-6_9
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DOI: https://doi.org/10.1007/978-81-322-2806-6_9
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