India, Australia focus on progress of commerce pact talks; agree on early conclusion

Commerce and Trade Minister Piyush Goyal on Saturday reviewed the progress of negotiations for the second tranche of commerce settlement along with his Australian counterpart Don Farrell, an official assertion mentioned.

“Either side reaffirmed their dedication to work constructively in the direction of the early conclusion of a balanced and mutually helpful CECA (complete financial cooperation settlement),” it mentioned.

The primary a part of the Financial Cooperation and Commerce Settlement (ECTA) entered into drive in December 2022.
The primary a part of the Financial Cooperation and Commerce Settlement (ECTA) entered into drive in December 2022.

Through the assembly, the Ministers reviewed the progress made beneath the CECA negotiations and mentioned pathways to raise bilateral commerce and financial partnerships.

The discussions lined a variety of areas together with commerce in items, companies, funding and cooperation in mutually helpful, it mentioned.In 2024-25, bilateral merchandise commerce between India and Australia stood at USD 24.1 billion, with India's exports registering a progress of 14 per cent in 2023-24 and an extra 8 per cent in 2024-25.