India Advances Trade Deals with Australia, New Zealand and Bahrain
India is expanding its global trade network with significant progress in negotiations with Australia, New Zealand, and Bahrain. Commerce Minister Piyush Goyal recently met with Australian counterpart Don Farrell to review the second phase of bilateral trade agreement talks.
Key Developments
- India-Australia Comprehensive Economic Cooperation Agreement (CECA) negotiations advancing
- New Zealand FTA talks completed fourth round in early November
- Bahrain trade and investment agreements nearing finalization
India-Australia Trade Relations
Both nations are working toward finalizing a balanced and mutually beneficial CECA agreement. The existing Economic Cooperation and Trade Agreement (ECTA) has been operational since December 2022, marking a milestone in bilateral trade relations.
The ongoing CECA negotiations aim to expand trade cooperation and deepen economic engagement between the two countries.
New Zealand FTA Progress
India’s Commerce Ministry expressed optimism that the proposed Free Trade Agreement with New Zealand would enhance trade flows, strengthen investment ties, and improve supply chain resilience.
The agreement is expected to provide greater stability and improved market access for businesses in both nations. The fourth round of negotiations took place from November 3-7 in Auckland and Rotorua.
Bahrain Partnership Expansion
India and Bahrain announced the launch of comprehensive trade pact talks on November 3, with both countries close to signing an investment agreement.
During discussions between External Affairs Minister S. Jaishankar and Bahraini Foreign Minister Abdullatif bin Rashid Al Zayani, the two sides explored enhanced cooperation in multiple sectors including defence, security, economy, trade, investment, health, fintech, space, and culture.
A joint statement highlighted commitment to boosting trade in electronics, petroleum, processed food, base metals, and gems and jewellery.
