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MUMBAI: Australian Prime Minister Anthony Albanese said that more than 85% of Australian exports to India and 96% of imports from India would become duty-free following last year’s Economic Cooperation and Trade Agreement (ECTA).
Albanese, who took office in May last year, was on his first visit as Prime Minister to India and Mumbai to address an Austrade event promoting Australia’s food and wine industry. Albanese was in the city with trade minister Don Farrell and interacted with industry leaders and representatives from Bollywood.
“The ECTA agreement recently came into force, unlocking enormous potential in our relationship. It gives Australian businesses far greater access to the mighty Indian economy, a market of some 1.4 billion people and the fastest growing major economy,” said Albanese.
“Australian fresh lobster and lamb used to be subjected to a 30% tariff. No more. Now it is zero. Tariffs on other products like avocado, citrus and seafood are on a pathway to zero. I look forward to the bustling restaurants of Mumbai and Delhi, right throughout India, showcasing these great Australian products with a glass of premium Australian wine,” he said.
Albanese, who was in Ahmedabad earlier in the day to watch the Indo-Australia test match along with Prime Minister Narendra Modi, engaged with leaders of the Indian industry separately.
Besides merchandise trade, the agreement envisages more visas for Indians and cultural exchanges. “I’m pleased that the two governments have been working hard to bring our film industries closer together. And for me, as the leader of a government that has just launched a major art policy in Australia going forward, this is important. Films are food for the soul,” he said.
Albanese spoke about his tennis partner and cricket celebrity Brett Lee’s love for India to highlight how the relationship between the two countries was about sport, food and shared culture.
Albanese, who took office in May last year, was on his first visit as Prime Minister to India and Mumbai to address an Austrade event promoting Australia’s food and wine industry. Albanese was in the city with trade minister Don Farrell and interacted with industry leaders and representatives from Bollywood.
“The ECTA agreement recently came into force, unlocking enormous potential in our relationship. It gives Australian businesses far greater access to the mighty Indian economy, a market of some 1.4 billion people and the fastest growing major economy,” said Albanese.
“Australian fresh lobster and lamb used to be subjected to a 30% tariff. No more. Now it is zero. Tariffs on other products like avocado, citrus and seafood are on a pathway to zero. I look forward to the bustling restaurants of Mumbai and Delhi, right throughout India, showcasing these great Australian products with a glass of premium Australian wine,” he said.
Albanese, who was in Ahmedabad earlier in the day to watch the Indo-Australia test match along with Prime Minister Narendra Modi, engaged with leaders of the Indian industry separately.
Besides merchandise trade, the agreement envisages more visas for Indians and cultural exchanges. “I’m pleased that the two governments have been working hard to bring our film industries closer together. And for me, as the leader of a government that has just launched a major art policy in Australia going forward, this is important. Films are food for the soul,” he said.
Albanese spoke about his tennis partner and cricket celebrity Brett Lee’s love for India to highlight how the relationship between the two countries was about sport, food and shared culture.
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