Today Minister for Trade and Tourism, Senator Don Farrell, and Minister for Commerce and Industry, Consumer Affairs, Food and Public Distribution, and Textiles, Shri Piyush Goyal, welcomed the entry into force of the Australia-India Economic Cooperation and Trade Agreement (ECTA).
This is a historic day for Australia and India. ECTA will expand trade in goods and services and deliver better economic outcomes for businesses on both sides and bring our two nations even closer together, furthering our Comprehensive Strategic Partnership.
Our economies complement each other, and this agreement paves the way for stronger and more resilient economies. Deepening integration between our two economies will support joint business initiatives and bolster the growth of our partnership into the future.
We will build on this success with an ambitious Comprehensive Economic Cooperation Agreement, enhancing the significant outcomes and cooperation already achieved under this trade deal.
Quotes attributable to the Minister for Trade and Tourism, Senator the Hon Don Farrell:
"The entry into force of the Australia-India Economic Cooperation and Trade Agreement is a significant milestone in our longstanding trade relationship with India.
"Australia and India share highly complementary economies, providing a wealth of opportunity for Australian and Indian business."
Quotes attributable to Minister for Commerce and Industry, Shri Piyush Goyal:
"The India-Australia Economic Cooperation and Trade Agreement reflects the deep friendship, shared vision and the trust between the two countries, and it will usher in a new era in our bilateral economic relations."
"The India-Australia Economic Cooperation and Trade Agreement is a mutually beneficial partnership unlocking a whole new world of opportunities for both countries bringing strong multiplier benefits across various sectors by providing jobs in both countries, expanding economic activities and enhanced consumers choices. "
