The interim trade deal between India and Australia, expected to be finalised in the next 30 days, could see sensitive sectors such as dairy excluded, Australian trade minister Dan Tehan indicated on Friday.

“We understand the sensitivities that India has when it comes to dairy, beef, and wheat,” said Tehan, while addressing a joint press conference after the conclusion of the 3-day trade talks here. Commerce Minister Piyush Goyal also added that both the countries have “accommodated and respected” each other’s sensitivities.

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“We have covered a large number of areas in the discussion including goods, services, rules of origin, sanitary and phytosanitary measures, customs procedure, and legal and institutional issues,” Goyal further added.

Goyal further stressed the need for a balanced trade agreement that encourages expanded trade and investment flows to the benefit of both of the economies and reflects a shared commitment to the rules-based international trading system.

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Following the interim trade deal, India-Australia Comprehensive Economic Cooperation Agreement (CECA) is expected to be concluded in 12 months, he further added.

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Responding to a question, Goyal said that Quad has brought the four countries, US, India, Australia, and Japan closer and this has also enabled India and Australia to come closer to each other in economic relations as well.

On the tourism MoU signed with India, Dan Tehan said the tourism flows between the two countries will continue to grow and that the education relationship between the two nations would also flourish.

Source : Sensitivities around Mint 11th Feb 2022 by Ravi Dutta Mishra