India and Australia inch closer to big trade deal
What’s the story
India and Australia have concluded the 11th round of negotiations toward a Comprehensive Economic Cooperation Agreement (CECA).
The talks were held in New Delhi from August 18-23. The aim is to enhance their economic partnership by expanding an interim trade deal that was implemented in December 2022.
CECA discussions covered goods, services, digital trade, and regulatory aspects. The discussions also included rules of origin, legal and institutional provisions, environment, labor, and gender issues.
Talks cover wide range of areas
The CECA negotiations have covered a wide range of areas, including goods, services and mobility, digital trade, rules of origin, legal and institutional provisions.
The discussions also touched on environmental concerns as well as labor and gender issues.
The commerce ministry said these talks have brought greater understanding for convergence in the remaining provisions.
Virtual intersessions to continue
To keep the momentum going and achieve convergence, both countries will continue their negotiations through virtual intersessions.
The commerce ministry said, “Looking ahead, with shared ambition and mutual understanding to work toward a future-ready framework.”
It added that India and Australia are strongly aligned on the early conclusion of a mutually beneficial CECA.
Source: www.newsbytesapp.com