India and Australia plan to sign an Interim Trade Agreement in the next 30 days, and they hope to have it done by that time. The deal will include goods, services, rules of origin, sanitary and phytosanitary measures, customs procedures, legal and institutional issues, and so on.
It will also cover legal and institutional issues. Commerce and industry minister Piyush Goyal said on 11th February that the 2 countries have been able to work together and respect each other’s feelings. Australia’s trade, tourism, and investment minister Dan Tehan said the same thing.
During a joint press conference after their three-day talks, Piyush Goyal said that the good thing about their friendship is that they have respected each other’s feelings and ideas. “And the deal is only a win-win for both sides, with no negatives for either one. So, it’s a good deal for both people and businesses, because it will meet their needs.”
It is expected that the 2 countries will sign the interim agreement in March. Then the India-Australia Comprehensive Economic Cooperation Agreement (CECA) is expected to be signed in the next year or so after that.
People in Australia believe that rules should be set and followed when people trade with each other. Tehan said about Australia’s experience with the Regional Comprehensive Economic Partnership, which includes China as a member.
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