Australia and India try for free-trade deal

Australia has opened negotiations on a free-trade agreement with India, officials said.

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Sydney -

Australia has opened negotiations on a free-trade agreement with India, officials said on Sunday.

“India is an enormous, rapidly expanding market for Australian businesses,” Trade Minister Craig Emerson said.

“Such a deal would broaden the base of merchandise trade, remove barriers to services trade, facilitate and encourage investment and address behind-the-border obstacles to trade.”

India is Australia's third-biggest export market but some deals have been made difficult by the Australian government's refusal to sell uranium to India until it signs the UN Nuclear Non-Proliferation Treaty.

Last year, exports were worth 19.8 billion Australian dollars (21 billion US dollars), a 22-per-cent increase since 2006.

Australia has clinched free-trade agreements with the United States, Thailand, New Zealand, Singapore and Chile and is in negotiations with China, Japan, South Korea and Malaysia. -

Sapa-dpa

Source: http://www.iol.co.za/australia-and-india-try-for-free-trade-deal-1.1063109

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