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When Australia approved the FTA, PM Modi said- ‘Thank you, the relationship between the two countries will be stronger’

India-Australia Relations: PM Narendra Modi has thanked Prime Minister Anthony Albanese for the approval of the Free Trade Agreement (FTA) from the Australian Parliament. He claimed that this would strengthen the relationship between India and Australia.

Prime Minister Narendra Modi tweeted, “Thank you Anthony Albanese! The Economic Cooperation and Trade Agreement (ECTA) will be welcomed by the business community. It will further strengthen the India-Australia Comprehensive Strategic Partnership.” Australian PM Anthony Albanese tweeted on Tuesday (November 22) that the Australian Parliament approved the Free Trade Agreement (FTA) with India. This tweet has been retweeted by PM Modi.

What will happen with FTA?

After the implementation of the FTA, more than 6,000 products from India including textiles, leather furniture will get duty free access to the Australian market. Under the FTA, Australia is offering zero customs duty access to India for about 96.4 per cent of its exports (on a value basis).

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,Due to deep friendship’

Commerce and Industry Minister Piyush Goyal tweeted, “Glad that the Australian Parliament has passed the India-Australia Economic Cooperation and Trade Agreement.” Creates a platform to pursue trade relations to full potential and accelerate economic growth on a large scale. “At present, Australia has not told from which date the FTA will come into force. Explain that FTA is done to simplify trade between two countries.

Read this also- India Australia Trade: Australian Parliament approves Free Trade Agreement with India, know what will be the benefit

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