Australian Parliament passes trade deal with India
TNN Bureau. Updated: 11/22/2022 4:20:14 PM
National
Australia: Australia’s parliament passed bilateral free trade agreements with India on Tuesday, the country's prime minister said in a tweet. The trade agreement is crucial for Australia to diversify its exports from the Chinese market to India and forge bilateral relations.
The bills easily passed the House of Representatives on Monday and the Senate made them law on Tuesday.
"Our Free Trade Agreement with India has passed through parliament," tweets Australian PM Anthony Albanese.
Australia trade minister Don Farrell said India had demonstrated its commitment to the bilateral economic partnership through the quality of the deal struck.
“Closer economic ties with India are a critical component of the government’s trade diversification strategy,” Don Farrell said.
Earlier, Australia prime minister Anthony Albanese had discussed the deal with PM Narendra Modi last week on the sidelines of the Group of 20 summit in Indonesia. Albanese had then said that he would visit India in March to advance the deal that was signed in April.