Australia-India Comprehensive Economic Cooperation Agreement (AI-CECA)
About the Australia-India Comprehensive Economic Cooperation Agreement negotiations
Recent years have seen remarkable growth in the trading relationship between India and Australia, fuelled by the many complementarities between the two economies. Two-way trade in goods and services has grown in value from $13.6 billion in 2007 to $24.3 billion in 2020.
India is the world's largest democracy and is a market of 1.3 billion people. Its youthful population, diversified economy and growth trajectory present significant opportunity for Australian business, including in education, agriculture, energy, resources, tourism, healthcare, financial services, infrastructure, science and innovation, and sport.
Australia and India launched negotiations for a Comprehensive Economic Cooperation Agreement in May 2011. There were nine rounds of negotiations before both countries decided to suspend negotiations in September 2015, pending the outcome of other multilateral regional negotiations.
In June 2020, as part of the Joint Statement on a Comprehensive Strategic Partnership between India and Australia, Prime Ministers Morrison and Modi decided to re-engage on a bilateral Comprehensive Economic Cooperation Agreement (CECA) while suitably considering earlier bilateral discussions, where a mutually agreed way forward can be found.
Ministers and officials from Australia and India have continued to work together to re-engage on a bilateral trade agreement, in line with the Leaders’ Joint Statement. On 26 August 2021, Ministers reviewed progress and discussed the way forward for an early conclusion. In a Joint Press Statement, they agreed to speed up negotiations to achieve an early harvest announcement by the end of the year and pave the way for a comprehensive agreement.