Major step towards a Free Trade Agreement between Australia and India

[pampango]

Source: Sydney Morning Herald

The Minister for Trade, Simon Crean, with his Indian counterpart Minister of Commerce and Industry Anand Sharma, yesterday welcomed the conclusion of the Australia-India Free Trade Agreement (FTA) Joint Feasibility Study.The Study recommends negotiation of a comprehensive bilateral FTA that includes trade in goods, trade in services, investment and other trade and investment facilitation and cooperation measures, as a single undertaking.

“An FTA with India will continue the momentum of Australia’s economic integration with Asia - the fastest growing region in the world.” India is Australia’s fastest-growing major two-way trading partner, reflecting the largely complementary nature of the two economies. Two-way trade grew 55 per cent to nearly $22 billion in 2008-09.

“India is the world’s largest democracy and is a market of 1.2 billion people. Its youthful population, diversified economy and growth trajectory present significant opportunity for Australian business, especially in the agriculture, energy, manufacturing, mining and services sectors,” Mr Crean said.

“Australia’s exports to India have increased by an annual average of over 25 per cent over the past five years, making India our fastest-growing major export market. It is our fourth-biggest export market, up from 13th a decade ago.”

Read more: http://www.ausfoodnews.com.au/2010/05/05/major-step-towards-a-free-trade-agreement-between-australia-and-india.html

[jxnmsdemguy65]

1. Say good bye to a middle class lifestyle, Australia

Greed rules on every continent.

[Captain Hilts]

2. Yes and no. nt

[OhioChick]

4. +1 n/t

[Sen. Walter Sobchak]

5. Australia has done just fine with free trade, as do most countries

The problem isn't free trade the problem is America stood dead still in the face of de-industrialization shaking our fists at the sky to John Cafferty songs but otherwise doing nothing.

That total failure led to the US economy diverging in two destructive directions, southern states deciding their path to fortune was rolling back to the clock to the dawn of the industrial revolution and wallstreet deciding their path to fortune was parasitic ponzi schemes. Both trends emerging well before contemporary free trade took hold.

[Gumbyman2]

3. Come on Australia...

DON'T DO IT!!!

The jobs leave and the money your companies save will only go to the CEOs and wealthy shareholders.

[pampango]

6. They may be trying to keep up with the EU which started free trade talks with India several

years ago. :)

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