Australia trade minister to visit next week to advance trade deal talks

Australia’s trade minister Dan Tehan will visit India next week to advance talks on a free trade agreement called the Comprehensive Economic Cooperation Agreement (CECA), an early harvest deal of which is to be concluded by December 2021.

For Australia, there are significant growth opportunities in critical minerals, infrastructure, energy and technology, Tehan said in his address Wednesday.

“Both countries are committed to achieving an early harvest announcement on an interim agreement to liberalise and deepen bilateral trade in goods and services, and pave the way for an early conclusion of a full CECA,” he said.

The two sides last month announced concluding an early harvest agreement by December that will pave the way for a CECA.

Tehan said that he and commerce and industry minister Piyush Goyal are seeking to make progress towards an interim deadline.

“It’s an ambitious approach, and this meeting will be crucial, but it’s one that can be achieved if both sides are seeking a truly complementary agreement,” he said.

In 2020-21, India’s exports to Australia amounted to $4.04 billion while imports were $8.24 billion.

India mainly exported refined petroleum, medicaments, railway vehicles including hovertrains, pearls and gems, jewellery and made-up textile articles.

Major imports were coal, copper ores and concentrates, gold, vegetables, wool and other animal hair, fruits and nuts, lentils and education-related services.