India-Australia to Begin Negotiations on Free Trade Agreement

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Sept. 28 – India and Australia are set to begin negotiations on a Free Trade Agreement to enhance bilateral commerce.

The findings of the Joint Study Group show that an FTA pact between India and Australia would be favorable for both. “The negotiations on the proposed FTA will begin after governments of both the countries examine the feasibility study on the pact. We expect it to start soon,” the Australian High Commissioner Peter Varghese was quoted by The Economic Times as saying.

The negotiations will look into tariff liberalization and the removal of other barriers for economic growth, trade in goods, services, investment and commercial linkages.

India and Australian trade have reached AUS$18.3 billion. India was Australia’s sixth largest market for goods exports and the seventh largest market for services and seventh largest market for goods and services combined reports The Economic Times.