The three-day stocktake visit for the India-Australia CECA concluded in New Delhi on December 6. Discussions focused on trade in goods and services, mobility, agricultural technology, and market access strategies aligned with India’s food security priorities.
The three-day stocktake visit for the India-Australia Comprehensive Economic Cooperation Agreement (CECA) concluded in New Delhi on December 6, 2024. Held from December 4-6, the discussions represented a significant step in enhancing bilateral trade and strategic ties. The Indian delegation was headed by Additional Secretary and Chief Negotiator, Department of Commerce, Rajesh Agrawal, and the Australian delegation was headed by First Assistant Secretary and Chief Negotiator, Department of Foreign Affairs and Trade Ravi Kewalram.
The two countries had implemented an interim trade pact in December 2022 and now they are negotiating to widen the scope of the pact for a Comprehensive Economic Cooperation Agreement (CECA).
Discussions addressed key areas of the CECA, including trade in goods, services, mobility, and agricultural technology cooperation. Both sides emphasized their commitment to achieving a balanced and mutually beneficial agreement. Deliberations also focused on market access mechanisms aligned with India’s food security priorities.
This visit built on the progress made during the 10th round of negotiations held in Sydney in August 2024. In New Delhi, the delegations reviewed progress in areas such as trade, supply chains, and agriculture and outlined a roadmap for early conclusion of the agreement. Both countries expressed optimism about the CECA’s potential to deepen economic collaboration and strengthen ties. The discussions highlighted opportunities for further cooperation in agricultural innovation, market access, and supply chain resilience.
India and Australia, key players in the Indo-Pacific, also collaborate under frameworks such as the Indo-Pacific Economic Framework for Prosperity (IPEF) and the Trilateral Supply Chain Resilience Initiative (SCRI). These initiatives aim to enhance regional cooperation and supply chain stability.
Australia is a key trading partner for India in the Oceania region, with bilateral merchandise trade reaching approximately US$ 24 billion in 2023-24. During the last fiscal year, India’s exports to Australia amounted to US$ 7.94 billion, while imports stood at US$ 16.15 billion. Since 2021-22, trade between the two nations has consistently hovered around US$ 25 billion.
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