August 26, 2024
2 mins read

India, Australia hold talks on economic cooperation pact

The latest round of talks was held from 19-22 August 2024 in Sydney in the areas of Goods, Services, Digital Trade…reports Asian Lite News

The tenth round of negotiations for a Comprehensive Economic Cooperation Agreement (CECA) was held between India and Australia recently. Both countries reviewed the progress made so far for a balanced economic cooperation agreement.

The latest round of talks was held from 19-22 August 2024 in Sydney in the areas of Goods, Services, Digital Trade, Government Procurement, Rules of Origin and Agri tech.

“Intense discussions were held on each of these tracks, bringing clarity and understanding for convergence in the remaining provisions. The 10th Round was held after a gap of around 5 months from the concluded 9th Round. However, intersessional meetings were held between these two rounds to bring in convergence on all these tracks as well as under other remaining tracks,” the commerce ministry said in a statement on Sunday.

The Indian delegation was led by Rajesh Agrawal, the Chief Negotiator and Additional Secretary of the Department of Commerce and the Australian delegation was led by Ravi Kewalram, the Chief Negotiator and First Assistant Secretary in DFAT, Australia.

India said efforts were made by both sides, keeping in mind the domestic sensitivities for reaching a balanced outcome.

“It was decided that given the clear understanding of each other’s proposals under the five tracks, track leads from both sides would work out an action plan for negotiations through virtual mode intercessional before the next round, likely to be held in India,” the statement said.

The Chief Negotiators reviewed the bilateral trade and investment relations between India and Australia and underscored commitment to strengthen and enhance the economic partnership between India and Australia through building up on the positive effects of the India-Australia ECTA, which entered into force on 29 December 2022.

Both sides made efforts to ensure that the CECA negotiation delivers meaningful benefits and balanced outcomes for both sides.

The Indian delegation also visited the University of Sydney and Cicada Innovation Centre to understand the research activities being carried out by Australia in agriculture and agritech.

Australia is an important trade and strategic partner of India. Both countries are part of the 14-country Indo-Pacific Economic Forum for Prosperity (IPEF) and Trilateral Supply Chain Resilience Initiative (SCRI), which is expected to strengthen the supply chain resilience in the region.

The next Round of India-Australia CECA negotiations is likely to be held in November 2024, the statement added. (ANI)

ALSO READ: Zelensky backs India hosting second summit on peace

Previous Story

Omar to contest polls from Ganderbal seat

Next Story

Indian astronaut to join ISS under Indo-US space pact

Latest from -Top News

‘Kill and Dump’ Haunts Balochistan Again

The latest killings have reignited accusations of extrajudicial executions and the use of counterterrorism laws to cover up custodial deaths in Balochistan….reports Asian Lite News Concerns have deepened across Balochistan following the

‘ASEAN Expands, But Keeps Its Soul’

Malaysian Foreign Minister Mohamad Hasan urged ASEAN to uphold its unity and strategic resolve amid intensifying geopolitical tensions and mounting external pressures…reports Asian Lite News Consensus and inclusivity will remain the cornerstones

Bangladesh bends to beat Trump’s blow

Dhaka seeks compromise as Trump’s 35% tariff looms large over key exports; Washington urges worker protections, factory relocation to US…reports Asian Lite News Bangladesh has opened the second round of critical trade

China seethes as US lands F-35s in PH

As US F-35 jets land in the Philippines for the first time, Manila cements its frontline role in Washington’s power play against rising China….reports Asian Lite News The Philippines is rapidly cementing
Go toTop

Don't Miss

Non-aligned parties lose ground

Significant among those affected were the BSP in Uttar Pradesh,

‘India, Pak came close to N-conflagration’

Pompeo recounted in his book that he doesn’t think the