Business Standard

Australian Parliament clears path for free trade agreement with India

Both nations prepare for New Year roll-out; DTAA with New Delhi amended, too

India-Australia ties
Premium

Under the deal, Australia has agreed to eliminate customs duty immediately on 98.3 per cent of the traded goods and on 100 per cent tariff lines over a period of 5 years

Asit Ranjan Mishra New Delhi
The Australian Parliament on Monday ratified the Economic Cooperation and Trade Agreement (ECTA) with India, paving the way for implementing the deal as early as January 1, 2023. This will be India’s first trade deal with a developed country in more than a decade, after the Comprehensive Economic Partnership Agreement was signed with Japan in 2011.

“The (Anthony) Albanese government has worked hard to expeditiously advance all processes necessary, to ensure Australia is in a position to implement both (India and the UK) free trade agreements before the end of 2022,” the Australian trade ministry said in a statement. The Australian

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Nov 22 2022 | 11:24 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com