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India, Australia hold talks on free trade pact

The two sides have agreed to conclude the long-pending CECA by the end of 2022

Commerce and Industry Minister Piyush Goyal and his Australian counterpart Dan Tehan on Thursday held discussions on the proposed free trade agreement (FTA) which is aimed at promoting economic ties between the two countries.

The Australian Minister is here to advance negotiations on the proposed FTA, officially dubbed the Comprehensive Economic Cooperation Agreement (CECA).

"Had comprehensive talks over lunch with my good friend & Australian Trade Minister @DanTehanWannon in New Delhi. We had an engaging discussion on ways to further deepen India-Australia economic and trade ties," Mr. Goyal said in a tweet.

The two sides have agreed to conclude the long-pending CECA by the end of 2022.

The bilateral trade between the nations stood at $12.3 billion in 2020-21, as against $12.63 billion in 2019-20.

India’s main exports to Australia are refined petroleum, medicaments, railway vehicles including hover-trains, pearls and gems, jewellery, made up textile articles, while major imports are coal, copper ores and concentrates, gold, vegetables, wool and other animal hair, fruits and nuts, lentils and education related services.

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