India, Australia Signs Interim Trade Deal Agreement

India and Australia on Saturday signed an interim trade pact to boost economic ties between the two countries.

The India-Australia Economic Cooperation and Trade Agreement was signed in the presence of Commerce and Industry Minister Piyush Goyal and his Australian counterpart Dan Tehan in a virtual ceremony

PM Modi Calls It ‘Watershed Moment.

He also added that the agreement will strengthen ties between the two countries as it share great bilateral relations.

The India-Australia Economic Cooperation and Trade Agreement (IndAus ECTA) was signed at a virtual ceremony by commerce minister Piyush Goyal and Australia’s trade minister Dan Tehan in the presence of Prime Minister Narendra Modi and his Australian counterpart Scott Morrison.

The deal is a “balanced and equitable trade agreement, which will further cement the already deep, close and strategic relations” between the two sides and “significantly enhance” bilateral trade in goods and services, create new employment opportunities and raise living standards, an official statement said.