Mutual Recognition Agreements

Facts for Prelims

Mutual Recognition Agreements

News: India and Australia have formed a joint working group to explore the possibility of a mutual recognition agreement (MRA) that would facilitate Indian whiskey makers’ access to the Australian market.

What is MRA?
• A Mutual Recognition Agreement (MRA) is a formal agreement between two or more countries or trading partners. It allows them to recognize and accept each other’s standards, regulations, and conformity assessment procedures for specific products or services.
• MRAs aim to facilitate trade and market access by reducing redundant testing, certification, and inspection requirements.
• The formation of the group comes after Australia got duty-free access for its high-end wines under the Economic Cooperation and Partnership Agreement (ECTA), between India and Australia.

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