ENA Global 2024-06-26 17:48:26 <p><span style="font-size:14px"><strong>New Delhi, Jun 26 (KNN)</strong> In a significant development for bilateral relations, Australia is currently engaged in discussions with India to establish a comprehensive free trade agreement, according to Australian Deputy High Commissioner Nicholas McCaffrey.</span></p> <p><span style="font-size:14px">The diplomat made this announcement during an interactive session hosted by the Confederation of Indian Industry on Tuesday.</span></p> <p><span style="font-size:14px">McCaffrey revealed that these talks aim to upgrade the existing Economic Cooperation and Trade Agreement (ECTA), which was signed in 2022.</span></p> <p><span style="font-size:14px">The goal is to enhance the scope and impact of the current trade pact between the two nations.</span></p> <p><span style="font-size:14px"> With the Lok Sabha elections over, Australia is now in talks with Indian officials to formulate a comprehensive free trade agreement, McCaffrey stated, indicating that the political climate is now conducive for advancing these negotiations.</span></p> <p><span style="font-size:14px">The Deputy High Commissioner highlighted the robust growth in economic ties between Australia and India over the past decade.</span></p> <p><span style="font-size:14px">Bilateral trade has doubled to USD 26 billion during this period, underscoring the increasing economic interdependence of the two countries.</span></p> <p><span style="font-size:14px">McCaffrey also pointed to the complementary nature of India-Australia economic relations. He cited the rising number of direct flights between the two nations as further evidence of strengthening ties.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 38367 https://knnindia.co.in/news/newsdetails/global/australia-india-free-trade-talks-in-progress-says-australian-diplomat 2024-06-26 17:48:26 knnindia.co.in