- Australia's Prime Minister, Anthony Albanese, stated today that the country's Free Trade Agreement (FTA) with India has been approved by its Parliament.
- "BREAKING: Our FTA with India has passed through parliament," Albanese tweeted.
- This comes just a few days after Albanese announced plans to visit India in March of next year. He made the announcement on the margins of the 17th G20 conference.
- where we discussed the finalisation of the deeper economic cooperation agreement between Australia and India, which we believe is critical for expanding Australia-India economic relations. "I'll be in India in March," Albanese stated at a press conference on Wednesday.
- "We intend to send a commercial delegation to India. And it will be an important visit as well as an improvement in our bilateral relationship "He continued.
- According to Australian Trade Minister Don Farrell, the trade deal with India gives a huge opportunity for Australian service companies and specialists to enter the Indian market.
- "In terms of market access and opportunity for Australian enterprises, the quality of this Agreement underscores India's commitment to our bilateral economic engagement," Farrell said.
- "India offers unique growth potential for Australian businesses in a wide range of areas, including food and agriculture, technology and green energy, and health and education services,"
- The agreement, according to the Australian government, would secure Australia's position in the world's fastest expanding big economy and allow Australian businesses to unlock or extend their operations in a market of roughly 1.5 billion customers.