Australia ratifies free trade pact with India, UK

Australian Prime Minister Anthony Albanese announced on November 22 that the Australian Parliament has ratified a free trade agreement (FTA) deal with India

This comes a few days after Albanese said that he will visit India in March next year. He announced this on the sidelines of the 17th edition of the G20 summit. "I also met with Prime Minister Modi of India, where we discussed the finalisation of the closer economic cooperation agreement between Australia and India, which we regard as being very important for expanding the economic relationship between Australia and India. I will visit India in March," Albanese told reporters

"We'll take a business delegation to India. And that will be an important visit and an upgrade in the relationship that we have between our two nations," he said. The Australia-India Economic Cooperation and Trade Agreement (ECTA) was signed on April 2.

It came as the Australian Parliament also ratified the country’s FTA with the UK. Britain says trade deal, a first “from scratch” since the UK's exit from European Union (EU), will benefit by eliminating most tariffs on UK exports and unlock £10.4 billion pounds of additional trade.

(ANI)