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India and Australia will sign an FTA by the end of 2022. Early harvest contract until December

India and Australia yesterday agreed to conclude a free trade agreement by the end of 2022 and an early harvest trade agreement by December this year. The decision to facilitate negotiations on the Comprehensive Economic Cooperation Agreement (CECA) between India and Australia was made at a meeting between Minister of Commerce and Industry Piyush Goyal and Australia’s Minister of Trade, Tourism and Investment Dan Tehan.

“We have agreed on a positive schedule (to conclude a trade agreement),” Goyal told reporters at a joint press conference in New Delhi. Both sides have signed the 17th India-Australia Joint Ministerial Committee.

Tariffs on certain selected items will be reduced under the Early Harvest Agreement. Both sides decided to exchange proposals for the proposed CECA agreement by October.

India and Australia yesterday agreed to conclude a free trade agreement by the end of 2022 and an early harvest trade agreement by December this year. The decision to facilitate negotiations on a comprehensive economic cooperation agreement between India and Australia was made at a meeting between Commerce and Industry Minister Piyush Goyal and his Australian counterpart Dan Tehan.

“It’s like a T-20 match, so we have such an aggressive timeline. The spirit of this partnership is that both India and Australia work on the same team to benefit each other. That’s it, “Goyal said.

Bilateral trade between India and Australia exceeded A $ 24 billion last year. The proposed trade agreement specifically covers the trade and investment of goods and services.

“This is in line with Article 24 of the WTO, targeting goods, services and investments, and started discussions on government-procured energy and resources, logistics and transportation, standards and rules of origin, at the end of October. Now this is very much. Ambitious, “said Taehan.

Both India and Australia “have a very positive interest in expanding trade, which could be kickstarted or tentatively implemented, but the outline of the final agreement will take a little longer,” Goyal said. It may be. ” ..

The interim or early harvest agreement “will cover areas of immediate interest, you can call them low-hanging fruits,” he said.

Fiber2Fashion News Desk (DS)



India and Australia will sign an FTA by the end of 2022. Early harvest contract until December

Source link India and Australia will sign an FTA by the end of 2022. Early harvest contract until December

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