India, Australia push to speed up trade deal talks

India and Australia are ramping up negotiations to expand trade and economic ￰0￱ a joint statement following a meeting between Commerce Minister Piyush Goyal and Australia’s Trade Minister Don Farrell in Melbourne, both sides are committed to finalizing their talks on an Economic Cooperation ￰1￱ Indian Commerce Ministry emphasized that it is looking forward to implementing a Comprehensive Economic Cooperation Agreement (CECA) between India and ￰2￱ noted, “The constructive discussions focused on unlocking the full potential of the India–Australia Economic Partnership.” India and Australia’s talks centered on the CECA framework During their recent meeting , the two also reviewed the progress made so far on the CECA ￰3￱ discussed ways to enhance trade relations and economic cooperation in goods, services, and ￰4￱ Indian government confirmed , “Both sides reaffirmed their commitment to work constructively towards the early conclusion of a balanced and mutually beneficial CECA, building on the foundation of the India–Australia Economic Cooperation and Trade Agreement (ECTA), which entered into force in December 2022.” Originally, Canberra expected to get a trade deal with India by the end of 2023, building on the existing ￰5￱ FY25, the total trade volume between the two nations reached $24.1 billion, driven by a 14% increase in Indian exports in FY24 and an additional 8% rise in ￰6￱ also held trade discussions in Auckland this week and stated on Friday that India and New Zealand are close to striking a free trade deal.

Still, India has yet to resolve its tariff situation with the ￰7￱ Trump had earlier slapped 50% tariffs on Indian exports to the US, seeking leverage over New Delhi’s oil imports from Russia. However, more recently, the American president has insisted that negotiations with India are progressing well , and he plans to visit the Asian country in ￰8￱ claimed that India had largely reduced its oil purchases from ￰9￱ minister Goyal also met with business figures from the Indian diaspora to discuss trade and investment ￰10￱ and Bahrain held discussions to strengthen their ties Bahrain and India reiterated on Monday their determination to further deepen defense and security ￰11￱ Minister Abdullatif bin Rashid Al Zayani and S.

Jaishankar, the Minister of External Affairs of India, met to discuss their bilateral relations and future areas of collaboration. A joint statement said the two nations aim to expand trade in electronics, petroleum, processed food, base metals, and gems and jewelry. Additionally, the two governments strongly denounced all acts of terrorism, including the attack at Pahalgam on April ￰12￱ pledged to fight against cross-border terrorism by working together on intelligence, cybersecurity, and technology collaboration, as well as increased cooperation among its ￰13￱ also initiated talks on the Comprehensive Economic Partnership Agreement, or ￰14￱ addition to this, the two countries agreed to commence discussions on a DTAA to avoid conflict of taxes, enhance fiscal transparency and promote the development of ￰15￱ even claimed that signing a bilateral investment treaty, along with CEPA, will further strengthen economic relations; India also welcomes Bahraini investment in its ￰16￱ $50 free to trade crypto when you sign up to Bybit now