The Joint Committee Meeting (JCM) between India and Australia has held its first meeting and discussed ways to deepen the existing economic relations between the two countries, a PIB press release stated.
This is a first-of-its-kind initiative for FTAs. The meeting was attended by the Commerce Secretary of India, Sunil Barthwal, and the Deputy Secretary of Foreign Affairs and Trade of Australia, George Mina.
The JCM meeting discussed the implementation of the India-Australia Economic Co-operation and Trade Agreement (Ind-Aus ECTA) and the steps taken to address the market access issues faced by businesses in both the countries. The meeting explored ways to promote investment and facilitate cooperation in new areas.
The areas of mutual interest discussed include coastal tourism, critical minerals, and collaboration for establishing Disease-Free Zones for shrimps and prawns in India. The meeting adopted the Rules of Procedure for the Joint Committee and established an institutional mechanism for the regular exchange of preferential import data.