A Division of Qld Multicultural Times Print Post Approved PP : 424022 1724 | ISSN 2652-6182
Volume 18, Number 8 Saturday, April 9th, 2022
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'Historic' trade agreement with India signed after decade of negotiations Australia and India have signed a major interim free-trade deal hailed as a significant step in diversifying export markets and reducing Australia's economic dependence on China. Prime Minister Scott Morrison touted the deal as "one of the biggest economic doors" available to open. "We are opening the biggest door of one of the biggest economies in the world in India," Mr Morrison said ahead of the signing. The interim AustraliaIndia Economic Cooperation and Trade Agreement was signed in a virtual ceremony by Trade Minister Dan Tehan and his Indian counterpart Piyush Goyal, and witnessed by prime ministers Scott Morrison and Narendra Modi. "We are very confident that this deal will see our two-way trade, the trade between our nations, double in the coming years," Mr Tehan said at the virtual event. "This will create a new dawn for our nations." Mr Goyal celebrated the agreement, saying it was a "natural" partnership. "India and Australia are natural partners. Like two brothers, both nations
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07 3268 6188 supported each other during the COVID-19 pandemic. Our relationship rests on the pillars of trust and reliability," Mr Goyal said. The trade deal cuts tariffs on a range of Australian exports to India, including coal, lentils, sheepmeat and wool, lobsters and rare earths. It also includes a phased reduction of tariffs on wine and a host of other agricultural products including avocados,
cherries, nuts, blueberries, almonds, oranges, mandarins, pears and strawberries. "The Indian economy is worth billions and billions and billions all around the world, and there are many countries who want to do more business with India, but it's actually Australia that has been able to secure that in the agreement that we've been able to reach," Mr Morrison said. CONTD. ON PG 49
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THE BRISBANE INDIAN TIMES, April, 2022 — 1