India, Australia review Comprehensive Economic Cooperation Agreement

India and Australia conducted a detailed review of their Comprehensive Economic Cooperation Agreement (CECA) during a three-day meeting held from 4 to 6 December, the ministry of commerce and industry said in a statement on Monday.
The statement added that the two countries evaluated critical areas under the pact, including trade in goods and services, mobility, and agri-tech cooperation.
“Both sides reiterated their shared commitment to ensuring the CECA delivers substantial benefits and achieves a balanced outcome for both nations,” the ministry said.
“The discussions also centred on market access modalities that align with India’s food security objectives,” it added.
Mint reported in October that India and Australia were set to review the CECA, with discussions likely to include e-commerce and the Australian government expected to push for greater concessions on tariff lines for agricultural and dairy products, base metals, steel and other goods.
“The Australian delegation’s visit follows the 10th round of negotiations held in Sydney from 19 to 22 August 2024, where both sides made significant progress on various aspects of the CECA,” said the ministry.
“The New Delhi discussions were a continuation of those efforts, and both countries shared a constructive dialogue on issues related to trade, supply chains, and the agricultural sector. Both parties evaluated the progress made so far and outlined a path forward for the early conclusion of the CECA,” it added.
The latest CECA discussions were led by India’s chief negotiator and additional secretary in the department of commerce, Rajesh Agrawal, while the Australian delegation was headed by Ravi Kewalram, first assistant secretary and chief negotiator from the department of foreign affairs and trade.
“Both delegations expressed optimism about the future of the CECA and the broader India-Australia economic partnership,” the statement said.
“The discussions have paved the way for further collaboration, particularly in areas such as agricultural innovation, market access and supply chain resilience,” it added.
Australia and India are working towards an ambitious CECA, building on the Economic Cooperation and Trade Agreement signed in 2022.
The CECA will add further goods and services market access and new areas of cooperation.
Trade between Australia and India has grown significantly in recent years, with India being Australia’s fifth-largest trading partner, according to the Australian government’s department of foreign affairs and trade.
During 2023-24, in value terms, India’s imports from Australia were $16.2 billion, while exports were almost $8 billion, compared to $19 billion in imports and nearly $7 billion in exports in the previous fiscal.