Feasibility study on Indo-Aus FTA to be finalised by April

The feasibility study on the Indo-Australian Free Trade Agreement (FTA) will be finalised by April this year with both governments expected to begin negotiations soon, according to a top Australian official.

The feasibility study on the Indo-Australian Free Trade Agreement (FTA) will be finalised by April this year with both governments expected to begin negotiations soon, according to a top Australian official.

HT Image

"The study will be finalised next month. It (study) will go to each government for their consideration and depending on
its outcome, negotiations will commence soon," Australian High Commissioner to India Peter Varghese told PTI.

The study was a comprehensive one, covering all trade sectors, he said, adding that it would entail tariff
liberalisation and removal of other barriers in trade.

The feasibility study, which began in August 2007, examined the potential impact on Australia and India of an
FTA, including implications for economic growth, trade in goods and services and investment, as well as for other
commercial linkages.

Asked whether there would be a considerable increase in Indo-Australian trade once the FTA has been finalised, he said "We wont be working to any numerical target because the market will develop along the lines. Therefore we don't set up targets."

The official-level Joint Study Group (JSG) of both nations has met three times in New Delhi (April and August
2008, and September 2009) and in Melbourne (May 2008).