Concluding the Australia-India free trade pact negotiations by the year-end is Australia’s top trade priority, Australian Trade Minister Andrew Robb has said.

“There is no time to be lost. Our negotiating team will come to India as often as required. It (the India-Australia Comprehensive Economic Cooperation Agreement) is our trade priority number one,” Robb said addressing the media in New Delhi on Tuesday.

Robb is in India with top CEOs from his country for the India-Australia CEO forum. The CEO forum is headed by Gautam Adani, Chairman, Adani Group, and Sam Welsh, Chief Executive, Rio Tinto Group. This is the minister’s fourth visit to India since September last year.

While liberalising trade in goods will be an important part of the CECA being negotiated, the Australian Minister said the principle focus will be on services and investment.

He said businesses in the Australian services sector were looking at opportunities to invest in India in a number of areas. Areas where cooperation is possible include engineering, health services, educating, contracting, construction, architecture, design, and the agriculture sector.

When asked whether Australia would insist on commitments in the area of e-commerce as part of the pact, the minister said one could not avoid the sector in the 21st century, but opening up could happen in phases.

Members of the CEO forum focussed on the importance of expedited investment approval processes in both India and Australia. They said there were opportunities for significant reduction in tariffs, that could boost bilateral trade and investment.

India is Australia's 12th-largest trading partner with two-way trade of $13 billion in 2014-15.

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