Next round of India, Australia CECA talks to take place in November

CECA Talks: The Ministry of Commerce on Sunday said the next round of India and Australia's Comprehensive Economic Cooperation Agreement negotiations will take place in November. This comes after both countries went ahead with the implementation of an interim trade agreement in Dec 2022.

The 10th round of these negotiations on CECA was held from 19 to 22 August 2022 in Sydney. Representatives deliberated over a number of agreement-related issues on goods, services, digital trade, government procurement, rules of origin, and agri-tech. Heading the delegation from India was Rajesh Agrawal, Chief Negotiator and Additional Secretary, Department of Commerce. On the Australian side, the delegation was headed by Ravi Kewalram, First Assistant Secretary, Department of Foreign Affairs and Trade.

"The meeting was detailed and oriented toward bridging the differences in search of a balanced outcome with sensitivity to domestic politics in both countries," said the ministry in the statement.

Australia has also invited the inaugural meeting of the newly constituted India-Australia Agri Tech Forum, which will be held in New Delhi on September 23. The forum will give a good opportunity for Australian stakeholders in agriculture and horticulture, including the industry, research institutions, and government representatives, to meet and see the opportunities in technology transfer and knowledge sharing.

During the fiscal year 2023-24, the two-way merchandise trade between India and Australia almost touched USD 24 billion, with India's exports amounting to $7.94 billion and imports at $16.15 billion. The trade between the two has often been seen hovering around the $25 billion mark since the financial year 2021-22.

The next round of CECA talks in November is going to further cement the close economic ties of India and Australia as both countries proceed with a comprehensive trade deal.