Australia: A big step was taken on Tuesday to further strengthen the relationship between India and Australia. The India-Australia Free Trade Agreement was passed in the Parliament of Australia. The Australian Prime Minister Anthony Albanese informed the same via a tweet. “BREAKING: Our Free Trade Agreement with India has passed through parliament”, he tweeted. The news comes just days after the Australian PM announced that he will be visiting India in March 2023 on the sidelines of the G20 Summit.
The PM also met his Indian counterpart Narendra Modi and discussed the trade relations between the countries. “I also met with Prime Minister Modi of India, where we discussed the finalization of the closer economic cooperation agreement between Australia and India, which we regard as being very important for expanding the economic relationship between Australia and India. I will visit India in March. We’ll take a business delegation to India. And that will be an important visit and an upgrade in the relationship that we have between our two nations”, he had said while announcing his visit to India a few days back.
This Free Trade Agreement will not only strengthen the business relations between the two countries but will also enhance the opportunities for small Australian marketers and individual professionals who are trying to access the Indian market for nurturing their businesses.
“The quality of this Agreement, in terms of market access and opportunity for Australian businesses, demonstrates India’s commitment to our bilateral economic partnership. India presents unparalleled growth opportunities for Australian business across a range of sectors, from food and agriculture, technology and green energy, to health and education services”, Australian Trade minister Don Farrel said last week. Under PM Modi’s leadership, India is extending its foreign trade policy to a greater extent.