Australia-India Trade Talks: New Comprehensive Free Trade Agreement in the Pipeline

Australian Deputy High Commissioner Nicholas McCaffrey announced that Australia and India are negotiating a new comprehensive free trade agreement. The existing Economic Cooperation and Trade Agreement (ECTA) signed in 2022 is set to be upgraded. Bilateral trade between the countries has doubled to USD 26 billion in the past decade.

Australian Deputy High Commissioner Nicholas McCaffrey stated on Tuesday that discussions are underway with the Indian government to establish a comprehensive free trade agreement between the two nations.

Speaking at an interactive session hosted by the Confederation of Indian Industry, McCaffrey mentioned that although there is an existing Economic Cooperation and Trade Agreement (ECTA) with India, signed in 2022, Australia seeks to enhance and expand this pact.

“With the Lok Sabha elections concluded, Australia is now in talks with Indian officials to formulate a comprehensive free trade agreement,” McCaffrey added.

He pointed to the significant growth in economic ties between the two countries, noting that bilateral trade has doubled to USD 26 billion over the past decade.

McCaffrey highlighted the complementary nature of India-Australia economic relations and cited the increasing number of direct flights between the two nations as further evidence of strengthening ties.