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India, Australia set up committee to start negotiations for expanding interim pact into CECA
The interim pact or India-Australia Economic Cooperation and Trade Agreement (ECTA) was inked by Commerce and Industry Minister Piyush Goyal and Australian Minister for Trade, Tourism and Investment Dan Tehan on April 2. According to the text of ECTA, both the countries have established a negotiation sub-committee which shall be composed of government representatives of both the sides.
After the signing of the interim trade agreement between India and Australia, a committee formed the two nations will start talks within two-and-a-half months for transforming the early pact into a full-fledged comprehensive economic cooperation agreement (CECA), according to official documents.
The interim pact or India-Australia Economic Cooperation and Trade Agreement (ECTA) was inked by Commerce and Industry Minister Piyush Goyal and Australian Minister for Trade, Tourism and Investment Dan Tehan on April 2.
According to the text of ECTA, both the countries have established a negotiation sub-committee which shall be composed of government representatives of both the sides
"Within 75 days after the date of signature of this (ECTA) agreement, the negotiation sub-committee shall commence negotiations on amendments to this agreement, on a without prejudice basis, on areas including inter alia market access for goods and services, a complete product-specific rules schedule, a digital trade chapter, and a government procurement chapter, to transform this agreement into a Comprehensive Economic Cooperation Agreement," the text said.
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