Lagatar24 Desk
New Delhi, Nov 22: The Free Trade Agreement (FTA) between Australia and India has been approved by the Australian Parliament, according to Australian Prime Minister Anthony Albanese.
This occurs shortly after Albanese announced that he will travel to India in March of the following year. On the eve of the 17th G20 conference, he made this announcement.
“Our Free Trade Agreement with India has passed through parliament,” Albanese tweeted.
The trade agreement with India presents a significant opportunity for Australian service providers and professionals to enter the Indian market, according to Australian Trade Minister Don Farrell last week.
“The quality of this Agreement, in terms of market access and opportunity for Australian businesses, demonstrates India’s commitment to our bilateral economic partnership,” Farrell said.
“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,” he added.
Notably, the Australia-India Economic Cooperation and Trade Agreement (ECTA) was signed on April 2.
The Australian government claims that the agreement will strengthen Australia’s position in the large economy with the fastest rate of growth in the world and give Australian companies access to or room to grow in a market with close to 1.5 billion consumers.
