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What does the India- Malaysia Agreement on Trade in Goods offer?

What does the India- Malaysia Agreement on Trade in Goods offer?

The CECA is an addition to the existing India ASEAN Agreement on Trade in Goods. Under the CECA, India has offered ASEAN-plus tariff concessions to Malaysia on 76 items and thereby given access to products such as fruits, cocoa, and synthetic textiles etc.

Malaysia has also offered similar tariff concessions to India on 140 items, including on basmati rice, mangoes, eggs, trucks, motorcycles and cotton garments these are items of considerable export interest to India and for which access is being made available for the first time. In the auto sector, India got non-reciprocal market access for motorcycles (HS871120 –up to 150cc) and trucks (HS870410,21,31,32,90 – Dumpsters) for the first time under any FTA.

Patent – A patent in an exclusive right granted by a country to the owner of an invention to make, use, manufacture and market the invention, provided the invention satisfies certain conditions stipulated in the law.

Exclusivity of right implies that no one else can make, use, manufacture or market the invention without the consent of the patent holder. This right is available only for a limited period of time. However, the use or exploitation of a patent may be affected by other laws of the country which has awarded the patent. These laws may relate to health, safety, food, security etc.

Further, existing patents in similar area may also come in the way. A patent in the law is a property right and hence, can be gifted, inherited, assigned, sold or licensed. As the right is conferred by the State, it can be revoked by the State under very special circumstances even if the patent has been sold or licensed or manufactured or marketed in the meantime. The patent right is territorial in nature and inventors/their assignees will have to file separate patent applications in countries of their interest, along with necessary fees, for obtaining patents in those countries.

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