THE PRIEST

The Asian Clearing Union (ACU) was established in December 1974 when the countries in the region were facing settlement difficulties, mainly due to resource constraints.Asian Clearing Union (ACU) is the simplest form of payment arrangements whereby the members settle payments for intra-regional transactions among the participating central banks on a multilateral basis. The ACU is a clearing union among other clearing houses/payments arrangements operating in various regions of the world. The objectives of the ACU are:

The Government of the Republic of India signed a Double Taxation Avoidance Agreement (DTAA) with the Oriental Republic of Uruguay for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income and on capital on 8th September, 2011.

The India-Malaysia Comprehensive Economic Cooperation Agreement (CECA) will come into effect on 1 July 2011. India-Malaysia CECA is India’s fourth bilateral Comprehensive Economic Cooperation Agreement, after Singapore, South Korea and Japan. The CECA envisages liberalisation of trade in goods, trade in services, investments and other areas of economic cooperation. Trade between India and Malaysia has reached US$ 10 billion in 2010-11, an increase of 26% from the previous year. It is expected that the implementation of this agreement will boost bilateral trade to US$15 billion by 2015. The trade in goods package under India-Malaysia CECA takes the tariff liberalization beyond the India-ASEAN FTA commitments, which were implemented by both countries on 1 January 2010. Under India-Malaysia CECA, the items on which India has obtained market access from Malaysia include basmati rice, mangoes, eggs, trucks, motorcycles and cotton garments, which are all items of considerable export int...