A Comparative Study On The Development Of Free Trade Areas Between China And India

There are two major trend of world economic development, the regional economic integration and economic globalization. In recent years, the World Trade Organization (WTO) has experienced several hard multilateral trade negotiations. The free trade area, with the character of variable access, speedy and depth has been developing rapidly. Nowadays, free trade zone has entered the fast development period. China and India as powerful developing country, in the development of free trade have both similarities and their own characteristics. Until2015March, China had built20free trade areas, involving32countries or regions around the world. India had built23free trade areas with partners all around the world. While India is successive with Japan and South Korea in free trade agreements and negotiating with the EU. This paper research and comprehensive Chinese and Indian free trade area’s present situation, causes, actions, analysis both similarities and differences, and puts forward some suggestions on the development of free trade areas in China on the basis of comparison.Indian and Chinese free trade area have similarities and own characteristics. There are various factors influence the development of free trade area. The two country take different measures to deal with these influence factors. In this paper, analysis of the current situation and characteristics of the development of free trade area between the two countries were first based on collect, collate the second-hand information. Then the motivation and the status of the two countries were compared, and then draw the factors that Chinese free trade area needs to improve. Finally the suggestions based on the factor of Chinese free trade areas will be given.