NEW DELHI: India and Australia have agreed to boost their defence ties and accelerate a broader economic partnership, Aus­tralian Prime Minister Anthony Albanese said in New Delhi on Friday.

Last year the two countries signed a free trade deal, called the Economic Cooperation and Trade Agreement (ECTA), the first signed by India with a developed country in a decade.

However, a much larger Comprehensive Economic Cooperation Agreement (CECA) has been stuck in negotiations for over a decade. Discussions between the countries restarted in 2011, but were suspended in 2016 as the talks were gridlocked.

Negotiations resumed in 2021, but a deal has yet proved to be elusive.

“We also agreed on an early conclusion of our ambitious Comprehensive Economic Cooperation Agreement as soon as possible and I am hopeful that we will be able to finalise that this year,” Albanese, who is on a three-day visit to India, told reporters.

Bilateral trade between the countries was $27.5 billion in 2021 and India says trade has the potential to nearly double to $50bn in five years under the ECTA.

India and Australia are security partners through the Quad group, which also includes the United States and Japan.

Published in Dawn, March 11th, 2023

Opinion

Editorial

Judiciary’s SOS
Updated 28 Mar, 2024

Judiciary’s SOS

The ball is now in CJP Isa’s court, and he will feel pressure to take action.
Data protection
28 Mar, 2024

Data protection

WHAT do we want? Data protection laws. When do we want them? Immediately. Without delay, if we are to prevent ...
Selling humans
28 Mar, 2024

Selling humans

HUMAN traders feed off economic distress; they peddle promises of a better life to the impoverished who, mired in...
New terror wave
Updated 27 Mar, 2024

New terror wave

The time has come for decisive government action against militancy.
Development costs
27 Mar, 2024

Development costs

A HEFTY escalation of 30pc in the cost of ongoing federal development schemes is one of the many decisions where the...
Aitchison controversy
Updated 27 Mar, 2024

Aitchison controversy

It is hoped that higher authorities realise that politics and nepotism have no place in schools.