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Dec 1-15, 2022 - Vol 3, Issue 9
Australian parliament approves free trade agreement with India New Delhi, Nov 22 In its 2020 review of India’s trade policies, the WTO stated: India continues to rely on trade ipolicy instruments such as the tariff, export taxes, minimum import prices, import and export restrictions, and licensing. These are used to, inter alia, manage domestic demand and supply requirements, protect the economy from wide domestic price fluctuations, and ensure conservation and proper utilisation of natural resources. As a result, frequent changes are made to tariff rates and other trade policy instruments, which creates uncertainty for traders. Recently, the Albanese Government revised its Tariff rates for certain Indian commodities. In a report released by the Joint Standing Committee on Treaties ( JSCOT) it recommends the Australian Government to take actions and implement the Australia-India Economic Cooperation and Trade
Agreement. (AI ECTA) The Agreement proposes to eliminate tariffs on more than 90 per cent of Australian goods exported to India. The report also states that Australia has obtained some tariff reductions in key export commodities whereas India's high tariffs on agriculture, such as sheep meat, wool, cotton, seafood, macadamia nuts and avocados will be removed. Moreover, India will further reduce its 150 per cent tariff on bottled wine that are above $US5 and has guaranteed deeper access to Australia to the onboarding free trade agreement partners. The agreement promises that about 85 per cent tariffs will be eliminated from the day ECTA goes into effect. ECTA presents immense opportunities for Australian service providers as well as professionals accessing the Indian market. India has guaranteed Australian service providers in thirty-one sectors and sub sectors the best and affordable
India, Australia joint military exercise begins
treatment to its future trade agreement partners. This will benefit suppliers of adult as well as higher education, business services, research and development sector, communications, construction and engineering services, insurance, banking, health services and hospitals, audiovisual, tourism and travel industries. One definitely must note that the value of a trade and investment agreement is not entirely dependant on market access and investment rules. Trade agreements operate as broader instruments of bilateral engagement. India is a strategic partner having a greater potential in the Indo-Pacific region. The two countries are committed towards the rule of law, open markets, and stability. Strengthening these ties into strong relationships is a key element of Australia’s foreign policy.
New Delhi, Nov 27 (IANS) The bilateral military training exercise between the contingents of the Indian Army and the Australian Army has started from Monday at Mahajan Field Firing Ranges Rajasthan. A special brigade of the Australian
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Australia clears FTA with India Economic Cooperation and Trade Agreement (AI-ECTA) needs ratification by that country's parliament before its implementation.
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Wanted Indian nurse, who killed woman in Australia in 2018, held by Delhi Police arrested by Delhi Police on Friday. Recently, the Australian police had declared a one million dollar reward for any information leading to his arrest. The accused, identified as Rajwinder Singh from Buttar Kalan, Punjab, used to work as a nurse in Innisfail, Queensland.
New Delhi, Nov 25 (IANS) A 38-year-old man, who had been absconding since 2018 after allegedly killing an Australian woman in Queensland, was
On October 21, 2018, the 24 yearold Toyah Cordingley was walking her dog on Wangetti Beach, 40 km north of Cairns in Queensland, when Singh killed her. Singh had fled the country two days after Cordingley was killed, leaving behind his job, wife and
The pact will enable duty-free access for Australian products in India in sectors like textiles, leather goods, jewellery etc.
three children in Australia. As per Australian police, the day after Cordingley was murdered, Singh departed Cairns on October 22, and then flew from Sydney to India on the October 23. His arrival in India was confirmed by the authorities. In March 2021, the Australian government had requested India to extradite Singh. The request was approved this November. On November 2, the Queensland police had declared a reward of one million Australian dollars, the largest ever offered by the department.
Army has arrived in India to take part in the military exercise. This is the first exercise in the series of AUSTRA HIND with the participation of all arms and services contingent from both armies. The joint military exercise by the Indian and Australian
New Delhi, Nov 22 (IANS) Australia on Tuesday cleared the free trade agreement (FTA) with India as its Parliament has approved the pact. Taking to Twitter, Australian Prime Minister Anthony Albanese said: "BREAKING: Our Free Trade Agreement with India has passed through Parliament." The pact is likely to be implemented on a mutually agreeable date. According to Australian law, the India-Australia
Union Commerce and Textiles Minister Piyush Goyal reacted to the development by tweeting: "Delighted that India-Australia Economic Cooperation & Trade Agreement has been passed by Australian Parliament. A result of our deep friendship, it sets the stage for us to unleash the full potential of our trade ties and spur massive economic growth." Australia on its part would offer zero duty access to Indian products, which currently attract customs duty to the tune of 4 to 5 per cent in that country.