“As a world-class education provider, Australia is well placed to partner with India across secondary, university and vocational sectors …”
Negotiations on the $12.6 billion free trade deal have continued for years but accelerated last year after prime ministers Scott Morrison and Narendra Modi made it a priority to complete the pact.
The two countries were keen to achieve the interim deal before the Australian government goes into caretaker mode before the federal election. Final details of the agreement are expected to be worked out over the coming months.
Under the deal, India has agreed to slash tariffs on Australian wine, wool and sheep meat. This will result in tariffs being eliminated on more than 85 per cent of Australia’s exports to India while 96 per cent of Indian goods imported will enter Australia duty-free.
Tariffs on Australian wine entering India will be cut immediately while tariffs on fruit and vegetables will be gradually reduced. Tariffs on Australian coal, gas, copper and critical minerals will be eliminated.
Australia will also grant visas to 1000 young Indians every year who want a working holiday in the country.
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ACTU president Michele O’Neil said the government had committed Australia to “another secretive trade agreement, negotiated without any oversight, without any meaningful consultation with unions or other civil society stakeholders”.
She also said there was “no independent verification of the costs and benefits to Australian workers and the economy”.
Nationals senator Matt Canavan said the “first step” trade deal was missing some measures.
“Unfortunately, this agreement does not cover some farm exports like dairy, beef and sugar,” he said. “Every relationship starts with small steps though, and this agreement gives us a strong platform to forge closer links in the years ahead.”
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Architects, engineers and accountants to be recognised in India free trade deal
Source: Philippines Alive
