This free trade agreement exists between India and Sri Lanka and offers tariff concessions to the governments of both countries. The Export Inspection Board is the only agency to issue certificates of origin under this agreement. “Negotiations can only be concluded if all countries have reached an agreement in the negotiations. In this case, New Zealand is as important as other RCEP partner countries that are larger in the economy,” said Lukita. The reduction in tariffs was carried out under the ASEAN agreement and the India-Malaysia Comprehensive Economic Cooperation Agreement (IMCECA), the communication continued. Approved agencies that levy a fee that they charge provide services related to the issuance of the certificate of origin, including the terms and conditions relating to rules of origin, the list of items covered by an agreement, the level of tariff preference, verification and certification of eligibility. Under the GSTP, tariff concessions are exchanged between developing countries that have signed an agreement. Currently, 46 countries are members of the GSTP, and India has exchanged tariff concessions with 12 countries for a limited number of products. Export Inspection Council (EIC) is the only agency authorized to issue certificates of origin under the GSTP.
MICECA is a comprehensive agreement covering trade in goods, trade in services, investment and the transport of individuals. It increases the benefits of the ASEAN-India Trade Agreement (AITIG) and will continue to facilitate and improve trade, services, investment and economic relations in both sectors in general. India-Malaysia trade reached $10 billion in 2010-11, a 26% increase over the previous year. Implementation of this agreement is expected to increase bilateral trade to $15 billion by 2015. This comprehensive economic cooperation agreement exists between the Indian government and Malaysia. The Export Inspection Board is the only agency to issue certificates of origin under this agreement as of July 1, 2011. These preferential regimes/agreements provide for rules of origin that must be respected in order for exports to benefit from tariff preferences. As part of the ECSC service agreement, India and Malaysia have provided economically viable commitments in transport sectors and modes, which are expected to lead to increased trade in services.
The ECSC also facilitates the temporary free movement of businessmen, including contract service providers, and independent professionals in economically viable sectors such as accounting and auditing, architecture, urban planning, engineering, medicine and dentistry, nursing and pharmaceuticals, computers and related services (SIR) and management consulting services. It is a non-contractual instrument by which industrialized (developed) countries extend unilaterally and on the basis of non-reciprocity and tariff concessions to developing countries. Currently, the following countries are extending tariff preferences under their GSP system: . According to Lukita, India was still considering it because the country`s vegetable oil producers are suffering heavy losses due to the dramatic increase in RBDPO imports from Malaysia in January-June 2019. At present, the Indian authorities are beginning to consider measures to protect trade in order to prevent the possibility of a reduction in RBDPO import duties in Indonesia from being quickly implemented. MICECA also allows longer entry times for the removal/reduction of tariffs on sensitive products.