Introduction to the 10th Round of CECA Talks – The 10th round of negotiations for the Comprehensive Economic Cooperation Agreement (CECA) between India and Australia took place from August 19 to 22, 2024, in Sydney. This round continued the intensive dialogue on multiple tracks including Goods, Services, Digital Trade, Government Procurement, Rules of Origin, and Agri-tech. After a five-month gap since the previous round, these discussions aimed to address outstanding issues and move closer to a balanced agreement.
Highlights of the Negotiations
The Indian delegation was led by Shri Rajesh Agrawal, Chief Negotiator and Additional Secretary of the Department of Commerce, Government of India. The Australian team was headed by Shri Ravi Kewalram, Chief Negotiator and First Assistant Secretary at DFAT. The meeting focused on bridging differences through detailed analysis and understanding of each party’s proposals. Both sides prioritized domestic sensitivities to ensure a balanced and mutually beneficial outcome.
Progress on Negotiation Tracks
Intense discussions were held on each of the five negotiation tracks. The outcomes were reviewed in a joint meeting of the Chief Negotiators, which provided strategic direction for future negotiations. Both teams agreed to develop an action plan through virtual meetings to further refine their proposals before the next round. This approach aims to streamline the process and address any remaining issues effectively.
Bilateral Trade and Investment Review
During the meeting, the Chief Negotiators also evaluated the current state of bilateral trade and investment between India and Australia. They reaffirmed their commitment to enhancing the economic partnership by leveraging the positive impacts of the India-Australia Economic Cooperation and Trade Agreement (ECTA), which came into effect on December 29, 2022. The goal is to ensure that the CECA negotiations deliver meaningful benefits and a balanced outcome for both countries.
Discussions on Economic Cooperation
The negotiations also included a roundtable discussion with key stakeholders such as AIBC National Chair Jodi McKay and CEO of Grain Trade Australia Pat O’Shannassy. These discussions aimed to explore deeper economic cooperation and investment opportunities. The roundtable was held alongside the 10th round of negotiations and provided a platform for further dialogue on promoting mutual economic interests.
Upcoming Agri-Tech Forum
Australia proposed hosting the inaugural meeting of the India-Australia Agri-Tech Forum (IAATF) in New Delhi on September 23, 2024. This newly constituted forum will involve Indian agricultural stakeholders, including industry leaders, research institutions, and government representatives. The forum aims to foster technology transfer and knowledge sharing in the agriculture and horticulture sectors.
Indian Delegation’s Visit to Research Centers
The Indian delegation also visited the University of Sydney and the Cicada Innovation Centre. These visits were aimed at gaining insights into Australia’s advancements in agricultural research and agritech. The exchange of knowledge and best practices is expected to enhance collaborative efforts in these critical areas.
Strategic Partnership and Future Prospects
Australia remains a crucial trade and strategic partner for India. Both nations are part of the Indo-Pacific Economic Forum for Prosperity (IPEF) and the Trilateral Supply Chain Resilience Initiative (SCRI), which are designed to bolster regional supply chain resilience. The ongoing CECA negotiations are expected to further strengthen this partnership, driving growth and innovation in both countries.
Looking Ahead
The next round of India-Australia CECA negotiations is anticipated to be held in November 2024. This upcoming round will continue the work of addressing unresolved issues and advancing towards a comprehensive agreement.
Conclusion
The 10th round of CECA negotiations in Sydney marked a significant step forward in the India-Australia economic partnership. With productive discussions and a clear roadmap for future negotiations, both countries are poised to achieve a balanced and effective trade agreement. The ongoing dialogue reflects their commitment to enhancing bilateral trade and investment, paving the way for a prosperous economic future.
