Australia to soon ratify trade pact

Australia will shortly ratify India-Australia Economic Cooperation and Trade Agreement (ECTA), and complete the processes in the following weeks, the commerce and industry ministry said on Tuesday after the two sides discussed its early implementation.

Commerce and industry minister Piyush Goyal, in a virtual meeting with Don Farrell, Australia's minister of trade and tourism, noted that the early implementation of IndAus ECTA is in the best interest of both the countries.

"The Australian minister informed that the IndAus ECTA as well as the amendments to the domestic regulation of Australia for resolving the issues related to Double Taxation Avoidance Agreement had been introduced in the Australia Parliament and likely to be ratified shortly after the Joint Standing Committee on Treaty submits its report to the Australian Parliament," the ministry said in a statement.


The ECTA was signed on April 22, 2022.

As per the statement, both the parties acknowledged the importance of initiating discussions for the comprehensive IndAus ECTA, and agreed to hold the annual Joint Ministerial Commission meeting sometime early next year.