India, Australia 'progressing well' on Free Trade Agreement talks

MELBOURNE: Australia and India are "progressing well" on the negotiations between them on Free Trade Agreement ( FTA) as the fifth round of talks on the issue concluded in Canberra.

"We have gone further in our goods negotiations. We have progressed well in our text on our services and investments. I hope in the next round we will start doing the real give and take of negotiations," J K Daddo, Joint Secretary of Commerce and Industry Ministry, told reporters here.

"It's been a very cooperative, positive and coordial atmosphere of discussions. Everything went on smoothly," he added after the talks that ended yesterday.

"We had four rounds of FTA and the last round was in November 2012. It was Australia's turn to host the fifth round this time," he said.

"I have come with five member team and we had discussions in Sydney and then two days full fledged discussions were held in Canberra," Daddo, who was a guest at the AIBC Victoria Ashoka award ceremony, said.

Daddo said that it would take few more rounds of talks to arrive at a mutually benefiting, equatable and balance agreement will finally emerge.

India has comprehensive FTAs with Japan, Malaysia and South Korea and it is negotiating similar agreements with many countries, including Australia.