The Australian government’s target is to encourage innovations in few areas including feed for aquaculture, new ocean products and sustainable designs
The Dollar Business Bureau
Australia has expressed hope of securing a Free Trade Agreement with India. For a long time now, the fate of the proposed FTA has been in the back burner owing to technical issues. But this time, it’s expected that both sides would work out their differences for the mutual benefit of increased trade between the two countries.
As of now, the trade between India and Australia stood at $18 billion as both nations are characterised by a strong enterprises sector. The proposed agreement is to bring into picture important areas and also address certain issues which have been close to getting solved with both the governments trying to make good between the two countries.
An event attended by The Dollar Business in Hyderabad in which, “Amanda Hodges, Senior Trade Commissioner, Australian Commission commented on the question of never-ending Comprehensive Economic Coorporation Agreement (CECA), which just passed its deadline that “the ongoing FTA negotiations between the two countries will conclude sometime this year”.
The positive atmosphere between the two countries was evident when a few days ago Ms. Harinder Sidhu, Australian High Commissioner to India launched the Blue Economy Aquaculture Challenge. The Australian Government’s objective in this ‘Challenge’ is to encourage innovations in select areas that included feed for aquaculture, new ocean products and sustainable designs.
Interested participants from the industry, NGOs, student and general public should submit the project by 30th June but should make it a point to delve or lay focus on the Indian Ocean.
According to an expert on Indo-Australian Relations, “The Australian Trade Commission was about to sign a deal with the Marine Product Export Development Authority with the aim to improving fishing capabilities.”
This free trade agreement was announced after the country signed a deal of Trans Pacific Partnership agreement with 11 other countries in New Zealand.
The Australian government’s target is to encourage innovations in feed for aquaculture, new ocean products and sustainable designs
March 08, 2016 | 04:50pm IST.