UPSC Prelims 2017 Question:

'Broad-based Trade and Investment Agreement (BTIA)’ is sometimes seen in the news in the context of negotiations held between India and

Explanation: 

• India and the European Union (EU) began negotiations on a Broad-based Bilateral Trade and Investment Agreement (BTIA) in Brussels, Belgium in 2007.
  
  

• India and the EU expect to promote bilateral trade by removing barriers to trade in goods and services and investment across all sectors of the economy. Both parties believe that a comprehensive and ambitious agreement that is consistent with World Trade Organisation rules and principles would open new markets and would expand opportunities for Indian and EU businesses.
  
  
• The negotiations cover Trade in Goods, Trade in Services, Investment, Sanitary and Phytosanitary Measures, Technical Barriers to Trade, Trade Remedies, Rules of Origin, Customs and Trade Facilitation, Competition, Trade Defence, Government Procurement, Dispute Settlement, Intellectual Property Rights & Geographical Indications, Sustainable Development.
  
  

Therefore, option (1) is the correct answer.

Subject: Economics | Foreign Trade and Investment