New Delhi: India and Australia have released a joint press release following the meeting between India's Commerce and Industry Minister, Piyush Goyal and his counterpart, Dan Tehan, Minister for Trade, Tourism and Investment. In the joint press release, both countries cited their aim to achieve an early harvest announcement (EHA) by December 2021 to take their bilateral business and trade to the next level.
Yesterday, Dan Tehan, Australia's Minister for Trade, Tourism and Investment and Piyush Goyal, India's Minister for Commerce and Industry, held a video conference. Both the ministers appreciated the progress made in three rounds of discussion between the chief trade negotiators of both sides and discussed the way forward to conclude the bilateral 'Comprehensive Economic Cooperation Agreement (CECA).'
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The ministers directed their respective officials to speed up the negotiations and to meet as often as required to achieve an early harvest announcement by December 2021 on an interim agreement to liberalise and deepen the trade in goods and services and pave the way for a comprehensive agreement. The ministers noted the importance of taking the views of business, industry and other stakeholders in the negotiations. Both of them agreed to start consultations on the potential opportunities and impacts of an interim agreement as a pathway to full CECA.
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Both the minister are looking forward to a balanced trade agreement that encourages expansion in trade and investment flows to benefit both the economies and people and reflect the shared commitment to the rules-based international trade system.
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