India-Australia look at taking proposed free trade agreement (FTA) to its logical conclusion
12 February 2022, Mumbai:
Hon'ble Commerce and Industry Minister Piyush Goyal of India & Australian counterpart Dan Tehan earlier this week on 10-02-2022 interacted holding discussions in a meeting on the envisaged free trade agreement (FTA) aspiring & aimed at deepening commerce, trade & economic ties between the two QUAD countries.
The Australian Minister was here to further negotiations on the proposed FTA against a backdrop of ever-improving bilateral relations within the respective countries, officially contemplated & dubbed as in the Comprehensive Economic Cooperation Agreement (CECA).
*The two sides have agreed to conclude the long-pending CECA by the end of 2022. The bilateral trade between the nations stood at USD 12.3 billion in 2020-21, as against USD 12.63 billion in 2019-20.
*India's main exports to Australia are refined petroleum, medicaments, railway vehicles including hover-trains, pearls and gems, jewellery, made up textile articles, while major imports are coal, copper ores and concentrates, gold, vegetables, wool and other animal hair, fruits and nuts, lentils and education related services.
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*Figures mentioned in the above article have been sourced from News18.com article.