Melbourne: India and Australia on Saturday discussed ways to deepen cooperation in economic and trade areas. The Indian Ministry of Commerce and Industry stated that Commerce and Industry Minister Piyush Goyal held bilateral meetings with Australia's Minister for Trade and Tourism, Don Farrell, and Minister for Skills and Training, Andrew Giles, in Melbourne to explore avenues for strengthening trade and investment ties.
According to Kuwait News Agency, both nations reviewed the progress of the India-Australia Comprehensive Economic Cooperation Agreement (CECA) and deliberated on strategies to enhance bilateral trade and economic partnerships. The discussions encompassed a broad range of topics, including trade in goods, services, investment, and mutually beneficial cooperation.
The bilateral merchandise trade between India and Australia amounted to USD 24.1 billion in the fiscal year 2024-25. Both sides reiterated their commitment to working constructively towards the early conclusion of a balanced and mutually beneficial CECA. During the meetings, Piyush Goyal also interacted with business representatives from the Indian diaspora, emphasizing the potential for stronger commercial linkages and acknowledging the community's role in advancing bilateral economic ties.