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Indian updates
India and the Southern African Customs Union (SACU) sign Terms of Reference for a Preferential Trade Agreement
BIS UpdatesTrade Agreements On 12th August 2026, India and the Southern African Customs Union (SACU), comprising of South Africa, Botswana, Namibia, Lesotho, and Eswatini signed the Terms of Reference (ToR) to guide negotiations for a Preferential Trade Agreement. The ToR has revived the trade negotiations which were stalled since 2010. Pursuant to the ToR, negotiations will create preferential market access for India in the SACU countries for exports of automobiles, pharmaceuticals, industrial machinery, textiles, diamonds, and agro-processed goods.
India announces intent to engage in review of India-Japan CEPA
The Indian Commerce Minister has announced India’s intent to engage in a review of the India-Japan CEPA. While the terms of reference for the review are yet to be finalised, it is expected that the renewed agreement will increase the scope of coverage to include movement of professionals, and expand cooperation in sectors such as textiles, pharmaceuticals, agriculture, automobiles, and industrial capital goods. The Minister also highlighted the policy changes made in recent years to address the concerns of Japanese investors.
Global Updates
South Korea and Bangladesh finalise CEPA
On 4th August 2026, South Korea and Bangladesh signed a Comprehensive Economic Partnership Agreement. The Agreement has been finalised after five rounds of negotiations. Pursuant to the Agreement, 97% of exports from Bangladesh will enjoy liberalised tariffs. Further, 87% of exports from South Korea will see reduced tariffs, including exports of Korean instant noodles, coffee, seaweed snacks, diesel, and vehicle parts. The agreement is also aimed to attract investments from Korea into the electronics, automotive, and manufacturing sector of Bangladesh.
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