Source: PIB
The 16th Session of the Joint Ministerial Commission (JMC) between India and Australia was convened in New Delhi
Key highlights
- The Session was co-chaired by Minister Commerce & Industry, Government of India and Minister for Trade, Tourism and Investment, Government of Australia.
- The last Joint Ministerial Commission was held in June 2018.
- The session was attended by officials from Departments of Commerce, Revenue, Agriculture, Fisheries, Department of Promotion of Industry & Internal Trade (DPIIT) and Ministry of External Affairs on the Indian side.
- The delegation from Australia included officials from the Department of Foreign Affairs and Trade, Austrade, Export Finance Australia and Australian High Commission
- Both sides welcomed efforts to elevate the bilateral economic relationship. They agreed to consider reviving the negotiations on the bilateral Comprehensive Economic Cooperation Agreement (CECA).
- They also agreed to take forward the issue of harmonizing standards and regulatory barriers for products of interest to both sides, in parallel.
- India raised the issue of taxation of off-shore income of Indian firms through the use of India-Australia Double Tax Avoidance Agreement (DTAA) and sought early resolution of the issue.
India and Australia agreed on the following :
- India and Australia agree to enhance bilateral trade and investment through a revival of the bilateral CECA negotiations and harmonize standards and regulations on important products
- Work on market access issues in both directions to increase trade
- Work on mutual recognition of educational qualifications of the two countries
- Continue collaboration to encourage increased direct flights between Australia and India.
