India-Aus talk on Free Trade Agreement likely soon

New Delhi, Sep 27 (PTI) India and Australia are expected
to launch negotiations soon on Free Trade Agreement to enhance
bilateral commerce.

A Joint Study Group, set up to conduct feasibility study
for such an agreement, has prepared a report favouring such a
pact. The report will now be studied by the respective
governments before formal negotiations begin.

"The negotiations on the proposed FTA will begin after
governments of both the countries examine the feasibility
study on the pact. We expect it to start soon," newly
appointed Australian High Commissioner Peter Varghese told PTI
in Indian national capital New Delhi.

He said Australia was looking forward to begin the
negotiations on the trade pact that will entail tariff
liberalisation and removal of other barriers.

The feasibility study, which began two years back,
examined the potential impact on Australia and India of an
FTA, including implications for economic growth, trade in
goods and services and investment, as well as for other
commercial linkages.

The trade and investment relationship between India and
Australia has been growing over the years, touching 18.3
billion Australian Dollar.

In 2007, India was Australia's sixth largest market for
goods exports, seventh largest market for services and seventh
largest market for goods and services combined. (More) PTI MPB
ANU


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