Discussions on for comprehensive free trade agreement with India: Australian diplomat
The Economic Times | 25 June 2024
Discussions on for comprehensive free trade agreement with India: Australian diplomat
Kolkata: Australian Deputy High Commissioner Nicholas McCaffrey on Tuesday said his country is currently engaged in discussions with the Indian government to establish a comprehensive free trade agreement between the two nations. Speaking at an interactive session organised by the Confederation of Indian Industry, McCaffrey highlighted that while there is an existing Economic Cooperation and Trade Agreement (ECTA) with India, signed in 2022, Australia aims to upgrade this pact to enhance its scope and impact.
"With the Lok Sabha elections over, Australia is now in talks with Indian officials to formulate a comprehensive free trade agreement," McCaffrey added.
He emphasised the significant growth in economic ties between the two countries, noting that bilateral trade has doubled to USD 26 billion over the past decade.
McCaffrey underscored the complementary nature of India-Australia economic relations and highlighted the increasing number of direct flights between the two nations as further evidence of strengthening ties.
