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The department of commerce on Monday said that India and Australia have “outlined a path forward for the early conclusion” of the Comprehensive Economic Cooperation Agreement (CECA) between both nations.
During a three-day stocktake meeting between both nations during 4-6 December, New Delhi and Canberra discussed several critical areas of the proposed agreement, including trade in goods, services, mobility, agri-tech cooperation, among others.
“The discussions also centered on market access modalities that align with India’s food security objectives,” the commerce department said in a statement.
The Indian delegation was headed by additional secretary and chief negotiator, department of commerce, Rajesh Agrawal, and the Australian side was headed by first assistant secretary and chief negotiator, department of foreign affairs and trade Ravi Kewalram.
The meeting follows the 10th round of CECA negotiations held in Sydney from August 19th to 22nd, 2024, where both sides made significant progress on various aspects of the CECA.
CECA negotiations began in February 2023, nearly two months after the signing of the interim trade agreement also known as Economic Cooperation and Trade Agreement (ECTA). Both countries had signed ECTA in April 2022, which kicked in later during the year, from December 29.
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The proposed comprehensive trade deal envisages a covering five broad areas including goods, services, digital trade, government procurement, product specific rules under rules of origin chapter.
Both sides have shown interest in the inclusion of new areas in the comprehensive trade deals, such as competition policy, micro, small and medium enterprises (MSMEs), gender, innovation, agri-tech, critical minerals, and sports.
“Both delegations expressed optimism about the future of the CECA and the broader India-Australia economic partnership. The discussions have paved the way for further collaboration, particularly in areas such as agricultural innovation, market access, and supply chain resilience,” the statement said.
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