India, Aus close to complete feasibility study on FTA

Basant Kumar Mohanty

Canberra, Aug 24 (PTI) Taking forward their growing
economic ties, Australia and India are close to complete a
feasibility study to establish a Free Trade Agreement (FTA) in
a wide range of areas, an Australian official said today.

The feasibility study for the FTA commenced early last
year and is about to be completed soon, the official told a
group of visiting journalists from India.

"We are keen to finalise the feasibility study. It is
quite close," he said.

India is the fifth largest market for Australia. The
amount of exports from Australia is to the tune of 19 billion
Australian dollar, the official said.

The export of cooking coal alone fetches 5 billion
Australian dollar a year to the country's economy.

The FTA will cover a wide range of areas as Australia has
huge natural resources.

"After the feasibility study both the countries will
finalise the areas which will come under FTA", he said.

Australian oil and gas company ExxonMobil has signed a
contract with Petronet of India to supply Liquefied Natural
Gas by 2014. The agreement was signed on August 10.

Asked whether Australia would export uranium to India,
the official said his government position has been that
uranium would not be exported to any non-NPT country. Since
India is a non-NPT signatory country, Australia could not
export uranium to it. PTI BKM