Guwahati: Australian Prime Minister Anthony Albanese on Tuesday announced that the country’s Parliament had approved the Free Trade Agreement (FTA) with India.
“BREAKING: Our Free Trade Agreement with India has passed through parliament,” Albanese tweeted.
This occurs shortly after Albanese announced that he will travel to India in March of the following year. He made this announcement on the eve of the 17th G20 conference.
“The deeper economic cooperation agreement between Australia and India, which we consider as being crucial for enhancing the economic ties between Australia and India, was also the topic of my meeting with Indian Prime Minister Modi. March will see me in India “said Albanese while addressing the presser on Wednesday.
“A corporate delegation will travel to India. And that will be a significant visit and a development in our two countries’ relationship “he added.
Last week, Australian Trade Minister Don Farrell said that the trade deal with India gives a significant opportunity for Australian service providers and experts to enter the Indian market.
“The quality of this Agreement reflects India’s commitment to our bilateral economic engagement, in terms of market access and opportunity for Australian enterprises,” Farrell added.
“India presents unparalleled growth opportunities for Australian business across a range of sectors, from food and agriculture, technology and green energy, to health and education services,” he added.
The Economic Cooperation and Trade Agreement (ECTA) between Australia and India were signed on April 2.
The Australian government claims that the deal will strengthen Australia’s position in the large economy with the highest rate of growth in the world and give Australian companies access to or room to grow in a market with close to 1.5 billion people.