The constructive discussions targeted on unlocking the complete potential of the India-Australia Financial Partnership, together with by way of an formidable and balanced India-Australia Complete Financial Cooperation Settlement (CECA).
In the course of the assembly, the Ministers reviewed the progress made below the CECA negotiations and mentioned pathways to raise bilateral commerce and financial partnerships. The discussions coated a variety of areas, together with commerce in items, companies, funding and mutually useful cooperation.
In FY 2024-25, bilateral merchandise commerce between India and Australia stood at USD 24.1 billion, with India's exports registering a development of 14% in 2023-24 and an additional 8% in 2024-25.
Each side reaffirmed their dedication to work constructively in direction of the early conclusion of a balanced and mutually useful CECA, constructing on the inspiration of the India-Australia Financial Cooperation and Commerce Settlement (ECTA), which entered into pressure in December 2022.
Piyush Goyal additionally engaged with choose enterprise representatives from the Indian diaspora, accompanied by Minister Farrell and Minister Giles. The interplay highlighted alternatives for stronger business linkages and underscored the neighborhood's position in advancing bilateral financial ties.
