Australia’s Parliament Approves Free Trade Agreement with India

Australia’s Parliament Approves Free Trade Agreement with India

Australian Prime Minister Anthony Albanese announced the passing of this historic agreement through the Australian parliament on Twitter. 

The agreement has been a long time in the making. and India launched negotiations for a Comprehensive Economic Cooperation Agreement in May 2011. The countries held nine rounds of negotiations before deciding to suspend negotiations in 2016, awaiting the outcome of other multilateral regional negotiations.

In September 2021, Australia and India formally re-launched CECA negotiations with the intention of concluding an Economic Cooperation and Trade Agreement (AI-ECTA) to swiftly liberalise and deepen bilateral trade in goods and services, and to then use this foundation to resume negotiations on the more ambitious CECA.

Prime Minister Modi responded to Albanese in a Quote Tweet:

India's Minister of Commerce & Industry, Piyush Goyal tweeted: 

India Market Snapshot

US$2.59 trillion (2020)
GDP per capita:
US$1,877 (2020)
GDP growth:
9 per cent (2021)
*IMF estimate
1.37 billion (2019)
Trade with Australia:
$24.3 billion (2020)
  • Source: Australia Department of Foreign Affairs & Trade 
  • Photo: Albanese and Modi at G20 Summit; Credit: Anthony Albanese 

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