The fifth round of talks between India and Australia on the Free Trade Agreement (FTA) issue are "progressing well".
The Joint Secretary of Commerce and Industry Ministry, J K Daddo told, "We have gone further in our goods negotiations. We have progressed well in our text on our services and investments. I hope in the next round we will start doing the real give and take of negotiations."
Till now the nations had four rounds of talks on FTA and the last round was in November 2012. It was now Australia's turn to host the fifth round this time.
According to Mr. Daddo a few more rounds of talks are required to arrive at a mutually benefiting, equatable and balance agreement will finally emerge.
Currently India has comprehensive Free Trade Agreements with Japan, Malaysia and South Korea and it is negotiating similar agreements with many other countries, including Australia.
WHAT IS A FTA or Comprehensive FTA?
WHAT IS A FTA or Comprehensive FTA?
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