4th October 2021, Mumbai:
The final free trade agreement or Comprehensive Economic Cooperation Agreement (CECA) between India and Australia will include a chapter on the e-commerce sector, says Dan Tehan, Australian Minister for Trade, Tourism and Investment.
The proposed trade agreement would cover trade in goods and services, and investment, etc. The two countries have agreed to finalize the agreement by 2022-end. The two sides also decided to have an exchange of offers regarding the proposed CECA agreement by October.
Last year, bilateral trade between India-Australia exceeded AU$24 billion. India mainly exported petroleum products, medicines, polished diamonds, gold jewelry, apparel, etc to Australia while imported coal LNG, Alumina, non-monetary gold from the country.
In services, major Indian exports to Australia included travel, telecom and computer, government and financial services, while imports were principally in the fields of education and personal related travel.
In 2020, India was Australia's seventh-largest trading partner and sixth largest export destination, driven by coal and international education.
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