India and Australia Work on New Trade Agreement
Piyush Goyal Meets Don Farrell
Australia is continuing negotiations with India for a Comprehensive Economic Cooperation Agreement, according to Australia’s Minister for Trade and Tourism, Don Farrell. He welcomed Union Commerce and Industry Minister Piyush Goyal to Adelaide and emphasized the benefits of the first trade agreement, which has strengthened both economies, created jobs, and reduced prices.
Farrell noted that since the trade deal began in November 2022, around USD 30 billion worth of Australian exports have entered India tariff-free, and Australians have saved around USD 225 million on goods from India. He also mentioned that the Australian government has completed consultations on a new roadmap for economic engagement with India, focusing on clean energy, agribusiness, education and skills, and tourism.
During his visit to Australia, Goyal attended the 22nd National Conference of the Confederation of Real Estate Developers’ Associations of India (CREDAI) in Sydney, where he urged the real estate industry to adopt more effective measures for worker well-being and consider expanding operations internationally. He also met with emerging Indian-origin and Australian leaders at an event organized by the High Commission of India and the India-Australia Business Community Alliance (IABCA).
Doubts Revealed
Piyush Goyal -: Piyush Goyal is an important person in the Indian government. He helps make decisions about trade and industry.
Don Farrell -: Don Farrell is a leader in Australia who works on trade and tourism. He helps make deals with other countries.
Comprehensive Economic Cooperation Agreement -: This is a big deal between two countries to help them trade more easily. It makes it cheaper and faster to buy and sell things.
CREDAI conference -: CREDAI is a group in India that works with real estate. They had a meeting in Sydney, Australia, to talk about building and business.
Sydney -: Sydney is a big city in Australia. It is famous for its Opera House and Harbour Bridge.
