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Negotiating Trade Agreement: A major step has been taken towards further strengthening trade relations between India and Australia. Both the countries have once again reiterated their commitment to finalize the Comprehensive Economic Cooperation Agreement (CECA) as soon as possible. This came to light in the meeting between Union Commerce and Industry Minister Piyush Goyal and Australian Minister Don Farrell.
According to the government statement, both countries are working positively to create a balanced and beneficial CECA. It is noteworthy that the first phase of the economic cooperation and trade agreement between the two countries came into effect in December 2022. Now the second phase of talks has been reviewed.
FTA talks with New Zealand in full swing
On the other hand, the fourth round of talks on the proposed Free Trade Agreement (FTA) between India and New Zealand took place in Auckland and Rotary from November 3 to 7. According to the Commerce Ministry, this agreement will increase trade flows, strengthen investment ties and bring stability in the supply chain. Traders will get better market access and stability.
Trade and investment agreement with Bahrain nears completion
Apart from Australia and New Zealand, India and Bahrain are also close to a trade deal. On November 3, the two countries announced that they were close to signing an ambitious trade agreement and investment agreement.
Foreign Minister S. The talks between Jaishankar and Bahraini Foreign Minister Abdullatif bin Rashid Al Zaini focused on enhancing cooperation in areas such as defence, security, economy, trade, investment, health, financial technology, space and culture. A resolution was taken to increase trade especially in sectors like electronics, petroleum, processed foods, metals, gems and jewellery. Dialogue with these three countries is further strengthening India’s international trade policy. This will provide new markets and opportunities to Indian businessmen.
