About the CECA between India and Australia<\/h5>\n
Both nations aim to sign an early harvest trade deal<\/strong> that will cover areas of immediate interest. Both the nations will exchange the first list of offers by October.<\/p>\n The trade deal will cover goods, services, investments, government procurement, logistics, standards, and rules of origin. The trade deal is expected to double the trade<\/strong> between the two nations.<\/p>\n In the past, a trade deal with Australia was put on hold as both countries were not able to reach a conclusion due to a lack of consensus on various issues.<\/p>\n In 2020, India was Australia\u2019s seventh-largest trading partner and sixth-largest export destination. India-Australia bilateral trade exceeded AUD 24 billion last year.<\/p>\n Major Indian exports to Australia are petroleum products, medicines, polished diamonds, gold jewellery, apparel, etc<\/strong>. The key Australian exports to India include coal, LNG, alumina, and non-monetary gold<\/strong>.<\/p>\n In services<\/strong>, major Indian exports relate to travel, telecom and computer, government and financial services.<\/strong> Similarly, the Australian services exports were principally in education and personal travel<\/strong>.<\/p>\n CECA stands for Comprehensive Economic Cooperation Agreement. It is a kind of free trade pact that aims to provide an institutional mechanism to encourage and improve trade between the two countries.<\/p>\n CECA is different from the Comprehensive Economic Partnership Agreement (CEPA). \u201cCooperation<\/strong>\u201d denotes a less intense relationship between two countries, while the word \u201cpartnership\u201d denotes a more personal and more intense relationship between the parties.<\/p>\n An Early Harvest trade deal serves as a precursor to an FTA<\/strong> between the two countries. It helps them to identify certain products and services for tariff liberalisation to further strengthen the confidence between the two trading partners.<\/p>\n Source:<\/b>\u00a0\u00a0<\/b>This post is based on the article\u00a0\u201cIndia, Australia aims to finalise trade pact by end of next year<\/b>\u201d\u00a0<\/b>published in Business Standard <\/b>on\u00a001st October 2021.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":" What is the news? India and Australia are looking to finalise a Comprehensive Economic Cooperation Agreement (CECA) by the end of 2022, which will help expand trade between the two nations. About the CECA between India and Australia Both nations aim to sign an early harvest trade deal that will cover areas of immediate interest.… Continue reading India, Australia aim to finalise trade pact by end of next year<\/span><\/a><\/p>\n","protected":false},"author":10311,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,164,9],"tags":[8963,10090,9703],"class_list":["post-138646","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-international-relations-daily-factly-articles","category-public","tag-bilateral-regional-and-global-groupings-and-agreements","tag-comprehensive-economic-cooperation-agreement","tag-india-australia-relations","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":1700774251,"cached_date":1704817952},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/138646","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10311"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=138646"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/138646\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=138646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=138646"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=138646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}About the trade between India and Australia<\/h5>\n
![\"India-Australia](\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2021\/10\/India-Australia.png?resize=411%2C311&ssl=1\")
What is CECA?<\/h5>\n
What is an early harvest trade deal?<\/h5>\n