India and Australia on Thursday discussed the way forward for an early conclusion of a bilateral Comprehensive Economic Cooperation Agreement (CECA).
Dan Tehan, Minister for Trade, Tourism and Investment, Australia and Piyush Goyal, Minister for Commerce and Industry, Food and Consumer Affairs and Textiles, India held a video conference on trade talks between the two nations.
The ministers appreciated the progress made in three rounds of talks between the chief trade negotiators of both sides and discussed the way forward for an early conclusion of a bilateral Comprehensive Economic Cooperation Agreement (CECA), read a joint press statement by the trade ministers of India and Australia.
The ministers noted the importance of negotiations, took into account the views of business, industry and other stakeholders, and decided to start consultations on the potential opportunities and impacts of an interim agreement as a pathway to full CECA, read the statement.
In this regard, the ministers directed officials to speed up the negotiations and to meet as often as required to achieve an early harvest announcement by December 2021 on an interim agreement to liberalise and deepen bilateral trade in goods and services and pave the way for a comprehensive agreement.
The ministers look forward to a balanced trade agreement that encourages expanded trade and investment flows to the benefit of both of our economies and peoples, and that reflects their shared commitment to the rules-based international trading system, added the statement.
( With inputs from ANI )
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