Industry & Economy
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Foreign Trade
Free trade agreement: Australia, India finalising talks for study
Our Bureau
New Delhi, Aug. 22 Australia is finalising discussions with India about a possible joint feasibility study for a bilateral free trade agreement (FTA).
This was stated by Mr Michael Moignard, Senior Trade Commissioner-South Asia, Australian Trade Commission, at a press briefing here, quoting the Australian Trade Minister, Mr Warren Truss, who announced this in Adelaide today.
Mr Moignard also announced the launch of a new business portal— www.utsavaustralia.in — that would enable Indian companies to access offers from Australian companies seeking partners, customers and markets in India and also find valuable information about Australian industry, expertise and capabilities.
The business portal will showcase Australian industry’s expertise and service skills to the Indian business community and bridge the information gap that exists in India on the capabilities of Australia in sectors such as agriculture, information and communication technology, according to Mr P.S. Krishnan, Director-Strategic Marketing, Australian Trade Commission. He also indicated that this portal may eventually transform into an electronic market place.
India is Australia’s fastest growing merchandise export market. Bilateral trade of merchandise goods and services is over A$12 billion, moving towards A$13 billion. The balance of trade is in Australia’s favour.
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