India and Australia Discuss Early Conclusion of Interim Trade Deal

India and Australia are debating the best course of action for completing their interim trade agreement as soon as possible.

Both countries hoped to reach an interim trade agreement before Christmas.

Earlier this week, Commerce and Industry Minister Piyush Goyal and Australia’s Minister for Trade, Tourism, and Investment, Dan Tehan MP, conducted a video conference to speed up the bilateral Comprehensive Economic Cooperation Agreement (CECA).

Officials from both countries have been instructed to speed up discussions in order to complete the Comprehensive Economic Cooperation Agreement (CECA).

“Both the ministers appreciated that bilateral trade talks have been very progressive and both the ministers have decided to deepen the engagement and directed the officials to speed up the negotiations to pave the way for a comprehensive agreement,” an official statement said.

Both countries had stated that they hoped to complete a full trade agreement by the end of 2022 and sign an early harvest agreement by December 25. The goal of the early harvest agreement is to cover regions of urgent importance to both countries.

The Comprehensive Economic Cooperation Agreement (CECA) is expected to cover goods, services, investments, government procurement, logistics, standards, and rules of origin.

“The ministers look forward to a balanced trade agreement that encourages benefit to both the economies and their people, and that reflects their shared commitment to a rules-based international trading system,” the statement added..