India, Australia committed to complete economic cooperation agreement this year

India and Australia on Wednesday committed to complete the bilateral Comprehensive Trade Agreement by the end of this year, signing an immigration and mobility partnership agreement aimed at increasing opportunities for students, researchers and businesses. The Immigration and Migration Partnership Agreement was signed after the Composite Dialogue between Prime Minister Narendra Modi and Australian Prime Minister Anthony Albanese. The Foreign Ministry said in a statement that the Prime Ministers of both the countries have welcomed the agreement. The agreement will pave the way for ease of movement for students, professionals, researchers and entrepreneurs.

For this, Australia has specially created a new system called MetS for India. An agreement on the formation of a task force on green hydrogen was also signed between the two countries on the occasion. This task force will outline the opportunities available in the field of renewable hydrogen. With this, India and Australia have committed to complete the Comprehensive Economic Cooperation Agreement (CECA) by the end of 2023. Prime Minister Modi said, in the meeting with Prime Minister Albanese, we discussed about taking India-Australia CECA to a new level in the next decade. We talked at length about the possibilities of cooperation in new areas. He said that this agreement will give new strength and new dimension to the trade and economic cooperation between the two countries. Foreign Secretary Vinay Kwatra said that the next two rounds of talks will be held in June and July on the economic cooperation agreement. Before this, the economic cooperation trade agreement between the two countries was signed last year and it has also come into force from December 2022.

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