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India Likely to Sign CECA With Australia This Year

The envoy said about $10 billion dollar (Rs. 641 billion) investment is in the pipeline in India and the CECA will widen the scope of boosting the bilateral trade and investment between the two countries.

Published: 05th June 2015 10:34 PM  |   Last Updated: 05th June 2015 10:34 PM   |  A+A-

By IANS

KOLKATA: Australian High Commissioner Patrick Suckling on Friday said the proposed Comprehensive Economic Cooperation Agreement (CECA) with India may be concluded by the end of 2015 which would help boost trade between the two countries.

"The prime ministers (of India and Australia) have agreed that we should finish it off this year," he told media persons on the sidelines of an event organised by MCC Chamber of Commerce and Industry here.

He said the present bilateral trade volume with India is nearly Australian $15 billion (Rs. 735.01 billion) while with China, it is to the tune of Australian $160 billion (Rs.7,840.15 billion).

The envoy said about $10 billion dollar (Rs. 641 billion) investment is in the pipeline in India and the CECA will widen the scope of boosting the bilateral trade and investment between the two countries.

The agreement, once signed is expected to cover goods, services and investments.

Suckling also said that the Chinese have made huge investments in the agro sector in Australia and there is scope for India too on this front.

The island continent has earlier concluded such agreements allowing free trade with China, South Korea and Japan.



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