India And Australia Advance Comprehensive Economic Cooperation Agreement Negotiations In Areas Of Food Security

New Delhi, Dec 10 (KNN) The Department of Commerce announced on Monday significant progress in bilateral trade negotiations between India and Australia, outlining a clear path toward the early conclusion of the Comprehensive Economic Cooperation Agreement (CECA).

During a three-day stocktake meeting held from December 4-6, senior officials from both nations engaged in detailed discussions covering critical economic collaboration areas.

These included trade in goods, services, mobility, agricultural technology cooperation, and strategic market access modalities aligned with India's food security objectives.

The high-level meeting, led by Additional Secretary and Chief Negotiator Rajesh Agrawal from India and First Assistant Secretary and Chief Negotiator Ravi Kewalram from Australia, represents the latest development in ongoing negotiations that commenced in February 2023.

This follows the 10th round of CECA negotiations held in Sydney from August 19-22, 2024, where substantial progress was achieved.

The proposed comprehensive trade deal aims to encompass five broad areas: goods, services, digital trade, government procurement, and product-specific rules under the rules of origin chapter.

Both nations have demonstrated keen interest in expanding the agreement's scope to include emerging domains such as competition policy, micro, small and medium enterprises (MSMEs), gender initiatives, innovation, agricultural technology, critical minerals, and sports.

The negotiations build upon the existing Economic Cooperation and Trade Agreement (ECTA), which was initially signed in April 2022 and implemented from December 29 of the same year.

The current discussions reflect a mutually optimistic approach toward strengthening bilateral economic partnerships.

In an official statement, both delegations expressed confidence about the future of the CECA and emphasised the potential for enhanced collaboration, particularly in agricultural innovation, market access, and supply chain resilience.

The ongoing negotiations signal a strategic alignment between India and Australia in developing a comprehensive and forward-looking economic cooperation framework.

(KNN Bureau)