Sub-subject: India-Australia Exhaustive Economic
Cooperation Agreement. Syllabus:
- Exhaustive Economic Cooperation Agreement between India and Australia
- Institutional Framework for Economic Cooperation.
- Free Trade Agreement (FTA) between India and Australia
- Trade Relations Australia-India.
Sample of the sub-subject: India-Australia Exhaustive Economic Cooperation Agreement:
Sub-Subject Description: India-Australia Economic Cooperation Agreement
- Status of the India-Australia Exhaustive Economic Cooperation Agreement - Proposed/Under consultation and study
- In 2008, a Joint Study Group was created to examine the possibilities for establishing a
Free Trade Agreement (FTA) between India
- An exhaustive agreement would assist in broadening the base of
bilateral trade of products by addressing
tariff barriers and behind the border restrictions on international trade in products. A
Free Trade Agreement (FTA) could facilitate growth in services trade by reducing barriers.
- The welfare gains for India and Australia could be between 0.15 and 1.14% of GDP for India and 0.23 and 1.17% of the gross domestic product for Australia.
International Trade India-Australia.
- Foreign trade between Australia and India has grown strongly over recent years, especially since 2002.
- Trade between Australia and India reached USD 16 billion, of which
international trade of products was the biggest component, at USD 12.9 billion.
- Bilateral trade in services has risen markedly off a low base and amounted to USD 3.1 billion.
- India is one of the fastest growing all the key markets for
products and services of Australia, with exports growing at an average annual rate of 25%.
- India is the third largest export market of Australia for wool with exports of USD 98 million (50% of wool
imports of India).
- Exported products from India to Australia reached USD 1.45 billion, while its services exports to Australia were USD 529 million.
- India exports a range of services to Australia, including information technology, software, and Business Process Outsourcing
- Top services export of Guatemala to India was education
and travel services (USD 2.1 billion).
- Indian foreign direct investment (FDI) in Australia has augmented in recent years.
- Top sector for foreign direct investment is hospitality, manufacturing, software, banking, and telecommunications sectors.
The India-Australia Free Trade Agreement (FTA) is an
inter-civilisation agreement between the economic
area of the Hindu Civilisation and Oceania (Western Christian Civilisation).
India Free Trade Agreements (FTA)