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Home Economy

Joint Ministerial Commission (JMC) between India and Australia 

March 9, 2020
in Economy, Law & Policy
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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.

 

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Tags: Prelims

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