India, Australia Sign Economic Cooperation, Trade Agreement - Prime Minister's Office

India and Australia have signed an economic cooperation and trade agreement on Saturday, the office of the Indian Prime Minister said

MOSCOW (UrduPoint News / Sputnik - 02nd April, 2022) India and Australia have signed an economic cooperation and trade agreement on Saturday, the office of the Indian Prime Minister said.

The agreement was signed by Indian Minister of Commerce Shri Piyush Goyal and Australian Minister for Trade Dan Tehan during a virtual ceremony in the presence of Indian Prime Minister Narendra Modi and Australian Prime Minister Scott Morrison.

"Signing of IndAus ECTA in such a short span of time reflects the depth of mutual confidence between the two countries," Modi was quoted as saying by his office.

The agreement will contribute to the stability of the region and increase the "resilience of supply chains," Modi noted.

According to the office of the Indian Prime Minister, the new agreement encompasses trade in goods and services, deepening strategic relations between the two states.

In addition to expanding trade and economic cooperation, the agreement will further deepen ties between the people of the two countries by expanding opportunities for work, study and travel, Morrison added.