The Financial Express (Delhi Edition)
FTA talks may conclude by 2016, says Abbott
Wants both countries to do more in trade
Seeking to increase trade and investment with India, Australian Prime Minister Tony Abbott on Friday expressed hope that negotiations for a proposed free trade agreement (FTA) between the countries will be concluded by 2016.
“Australia is open for business. Both India and Australia want to boost two-way trade and investment, and I hope that the comprehensive economic partnership agreement negotiations between our countries will be concluded, at the latest, by the end of 2016,” Abbott said.
He was addressing industry leaders at a meeting organised by industry chambers. He asked Australian businesses to increase investments in India. The talks for a comprehensive economic cooperation agreement (CECA), also known as FTA, between India and Australia were started in 2011.
So far several rounds of negotiations have been completed for further liberalising and broadening the base of merchandise trade, removing non-tariff barriers and encouraging invest-
New Delhi, Sep 5: Australian Prime Minister Tony Abbott on Friday said Narendra Modi as the then Gujarat chief minister should not be blamed for the 2002 riots in the state as he was just a “presiding officer” who has been cleared in “endless inquiries”. “My understanding is that there has been endless inquiries into this and Mr Modi has always been cleared. That certainly is good enough for me,” Abbott said in an interview. Abbott recalled Modi’s visit to Australia twice as the chief minister of Gujarat: “He struck some good friendships and has quite a cheer squad in Australia.” PTI ments. The two-way trade between Australia and India was only $15 billion (2012-13) and Indian investment in Australia is well under $20 billion, “and the less said about Australian investment in India the better”, he said. “Trade and investment is substantial but it’s not what it should be given our countries’ level of comfort with each other, our comparative proximity and the complementarity between our economies,” he added. PTI