India and Australia will include e-commerce in the final free trade pact:


India and Australia have agreed to include e-commerce in the final free trade agreement which is expected to be in place by the end of next year, according to Australia’s Minister of Trade, Tourism and Investment, Dan Tehan.

“E-commerce was something we discussed yesterday. And what Minister (Piyush) Goyal and I agreed was that there would be a chapter on e-commerce in the final agreement,” he said at a press conference here.

The two countries have agreed to conclude an interim or early harvest trade deal by Christmas and a final free trade agreement or comprehensive economic cooperation agreement (ECSC) by the end of 2022. The two sides also have decided to have an exchange of offers concerning the CECA project. agreement by October.

The decision to speed up negotiations for the India-Australia CECA between the two countries was taken during a meeting between Trade Minister Piyush Goyal and Tehan on Thursday.

On a question related to agriculture, the visiting minister said that there are certain sectors where Australia wishes to improve its access to the Indian market “but we also understand” that there are sensitivities in India that need to be taken into account.

“So there may be areas where we can use investments, there may be areas where we can use technology… where we can use services to help develop the agriculture partnership.” , did he declare. said, and added “at the end of the day we want to make this (CECA) a victory for both countries”.

The proposed trade agreement would cover trade in goods and services, and investment, among others.

Bilateral trade between India and Australia topped A $ 24 billion last year.

Top Indian exports to Australia are petroleum products, medicines, polished diamonds, gold jewelry, clothing, etc., while top Australian exports to India include coal, LNG, alumina and non-monetary gold.

In services, India’s top exports were in travel, telecommunications and IT, government and financial services, while Australia’s services exports were mostly education and personal travel.

In 2020, India was Australia’s seventh trading partner and sixth export destination, driven by coal and international education.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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