Australia keen to finalise free trade agreement this year, says official

Australian Trade Minister Andrew Robb will pursue talks on the proposed bilateral free trade agreement (FTA) with his Indian counterparts and officials next week, said Nicola Watkinson, Senior Trade and Investment Commissioner, South Asia, Australian Trade Commission.

India and Australia have recently restarted talks on a free trade agreement.

Elaborating on the status of the pending FTA, Watkinson said: “Following Abbot’s visit here in September, a round of talks has already taken place in December and we are anticipating a lot of energy put in by both sides in the next 12 months. Our trade minister will also be pursuing discussions for this.”

The FTA, which was initiated by the erstwhile UPA Government in 2011, will result in elimination or sharp reduction in tariffs for most goods traded between the two countries as well as liberalised rules for flow of investments and services.

A 400-member delegation from Australia will visit India to sign business pacts in the areas of water, manufacturing, sports education, tourism, skills, road safety, rail transport, life sciences and tropical medicine, among others.

“The mission, which aims at promoting interaction between the two business communities, will feature a multi-city week-long programme spread across 13 industry sectors,” Watkinson told BusinessLine .

The delegation, led by Australian Trade and Investment Minister Andrew Robb, will visit New Delhi, Mumbai, Ahmedabad, Pune, Chandigarh, Ludhiana, Jaipur and Kolkata. Education, too, will be an area of focus. “The education delegation will focus on research collaborations. It’s not just about attracting students to Australia, but also about conducting joint research and co-funded PhD projects. We will sign new deals in the skills area, particularly focusing on mining, manufacturing and media, and audio-visual post production.”

A number of sports education providers will also be in India for MoUs in elite sports training as well as grassroots level sports journalism, sports nutrition, physiotherapy and medicine. Both Abbott and Modi have said they want to focus on their respective markets to increase tourism figures.

“One niche area that India can really focus on is tourism interpretation for visitors. About 15-20 companies in Australia are working in this area, such as in audio visual guides for museums, how to better curate and interpret culture, restore and repair heritage buildings, and work with local communities.”

This delegation will travel to Jaipur and do road shows focussing on the country’s heritage, such as hill fort projects.

It is also looking to work with India for its ‘Make in India’ campaign. “Australian manufacturers are looking to partner with markets like India for production to target the Indian market and also to work together to go into third markets,” Watkinson said.

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