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Green also emphasised Australia’s eagerness for the second phase of the free trade agreement with India. “We are very keen on the second phase of the free trade agreement, and we will shortly be announcing in Australia a new document that will give a picture of the future, designed for Australian traders and investors to have them better understand what the opportunities are in this country,” he stated.
Green pointed out that India’s exports to Australia have grown at an impressive rate. “India’s exports to the world over the last five years have increased by 35%. That sounds pretty good. But in the same period, India’s exports to Australia have increased by 66%. So, the benefit that Indian traders are getting from engagement with Australia is moving twice as fast as it is with the rest of the world. We are delighted about that,” Green noted.
Key sectors such as textiles, agriculture, and automotive have witnessed remarkable growth in exports to Australia. Over the last two years alone, Indian textile exports to Australia have grown by 20%, agricultural exports by 35%, and automotive exports have doubled, marking a 100% increase. Green attributed these successes to the strong linkages between the two economies.
Regarding the Comprehensive Economic Cooperation Agreement (CECA), Green stated, “We’re working very hard I think we’ve had nine rounds of formal negotiation and I think activity is intensifying.” He confirmed the ongoing engagement, noting that “Our chief negotiator was in Delhi just last month and I’ve had since the start of the year a number of key engagements with the most important figures on the Indian side.”
While declining to set a timeline, Green expressed optimism, citing “a very high level of trust” between the two sides. “We’re not going to put a timeline on it, we want a good agreement and we will take our time to get that right, but we are optimistic and the two sides are very closely engaged,” he concluded.
