India-Australia Trade Deal: The date fixed for the India-Australia trade agreement, will be applicable from December 29

Posted on 30th Nov 2022 03:52 pm by rohit kumar

The Australia-India Economic Co-operation and Trade Agreement (ECTA) will come into force on 29 December. This was announced by Australia's High Commissioner to India Barry O'Farrell on Wednesday. Ambassador O'Farrell tweeted, "The date is set! The Australia-India Economic Cooperation and Trade Agreement will come into force on 29 December, providing new market access opportunities for both countries and securing a friendship for decades to come." "

 

 

The announcement comes a week after Australian Prime Minister Anthony Albanese's statement. He had said that the country's Free Trade Agreement (FTA) with India has been passed by the Parliament. Albanese tweeted on November 22, "BREAKING: Our Free Trade Agreement with India has been passed by Parliament."

 

 

In a press statement today the Albanese Government said it confirms that the Government of India has met its domestic requirements to implement the implementation of the Australia-India Economic Co-operation and Trade Agreement (ECTA). This trade agreement will give both countries new access to each other's market. The agreement will come into force on 29 December for Australian businesses and consumers. Australia's parliament last week finalized its domestic requirements for the trade deal, with the government unanimously passing bills related to the trade deal.

 

Also Read: Goods Barometer: Signs of the global economy slowing down in 2023, what do WTO figures say?

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