Australia, India 'too far apart' to conclude CECA soon: Aus report

The negotiating positions of Australia and India are "too far apart" to conclude the bilateral Comprehensive Economic Cooperation Agreement (CECA) in the near term, said an Australian government's report on the country's economic strategy for India.

The report titled 'An India Economic Strategy to 2035' -- authored by former Australian high commissioner to India Peter Varghese -- said Canberra should focus on securing some of the objectives of the CECA with India through the Regional Comprehensive Economic Partnership (RCEP).

The negotiation for the CECA between India and Australia, was started in 2011 to provide fillip to trade and investments between the countries.

Several rounds of negotiations have been completed for liberalising trade and services regime, besides removing non-tariff barriers and encouraging investments. But, both the sides have yet to resolve issues pertaining to goods and services.

Making a list of total 90 recommendations on making India its top destination for trade and investments, the report said, "However, our negotiating positions on CECA are too far apart for the conclusion of a CECA to be a realistic objective in the near term."
Varghese, in the report said, "In a report with a 20 year time horizon, I have not sought to go into the details of what is holding up the conclusion of a CECA. Suffice to note that our negotiating positions are too far apart to make the conclusion of a CECA a realistic objective in the near term."