India, Australia review trade talks, aim early conclusion of CECA

Union Commerce and Industry Minister Piyush Goyal on Saturday held discussions with his Australian counterpart Don Farrell to review the progress of negotiations for the second tranche of the Comprehensive Economic Cooperation Agreement (CECA), aimed at further strengthening bilateral trade and economic ties between the two nations.According to information,both sides reaffirmed their commitment to work constructively toward the early conclusion of a balanced and mutually beneficial CECA. The first phase of the Economic Cooperation and Trade Agreement (ECTA) between India and Australia came into effect in December 2022.
During the meeting, the two ministers took stock of the progress made under the ongoing CECA negotiations and explored new pathways to elevate bilateral trade and economic cooperation. The discussions covered a broad spectrum of issues, including trade in goods and services, investments, and areas of mutual collaboration.India and Australia have been working to expand the scope of their existing trade partnership by addressing key tariff and non-tariff barriers and deepening engagement in emerging sectors such as critical minerals, renewable energy, and technology services.
In 2024–25, bilateral merchandise trade between the two countries stood at $24.1 billion, with India’s exports to Australia registering a robust growth of 14% in 2023–24 and a further 8% increase in 2024–25.Officials noted that the ongoing talks under CECA reflect the growing strategic and economic partnership between India and Australia, underscoring both nations’ shared vision for an open, inclusive, and resilient Indo-Pacific trade architecture.

(Business Correspondent)