Australia’s Federal Government has announced that two trade deals have passed through Parliament.
Australia will be in a position to advance all processes to ensure that both free trade agreements can be passed before the end of 2022.
The Australia-India Economic Cooperation and Trade Agreement (ECTA) will open up new markets to reach around 1.4 billion consumers in India.
The Australia-United Kingdom Free Trade Agreement (A-UKFTA) is the first full trade agreement the UK negotiated from scratch following Brexit. The A-UKFTA offers opportunities for Australian businesses to diversify their trade.
The ECTA and A-UKFTA will enter into force 30 days (or another mutually agreed time) after the respective parties have confirmed in writing that they have completed their domestic requirements.
“These agreements will support our businesses to grow, to offer more employment opportunities, and will give Australian consumers more choice at the checkout,” said the Minister for Trade & Tourism, Senator the Hon Don Farrell.
