Ties with India critical’
“Closer economic ties with India are a critical component of the government’s trade diversification strategy,” Mr. Farrell said.
Mrt. Farrell said the British deal was “crucial to boosting our growth.”
Under the Australia-Britain deal, more than 99% of Australian goods exports will be duty-free, including sheep meat, beef, dairy, sugar, and wine.
Taxes on 90% of Australian goods exported to India including meat, wool, cotton, seafood, nuts, and avocados will also be removed.
Prime Minister Anthony Albanese discussed the deals with Indian Prime Minister Narendra Modi and British Prime Minister Rishi Sunak last week on the sidelines of the Group of 20 summits in Indonesia.
Albanese said he would visit India in March to advance the deal that was signed in April.
The British deal was signed in December by then-Prime Minister Boris Johnson’s administration and has been criticized by its successors for failing to deliver more for Britain.
The deals would come into force 30 days after countries have advised each other in writing that the supporting legislation has been passed by their parliaments.
Albanese and his ministers on Tuesday welcomed World Trade Office Director-General Nzogi Okonjo-Iweala to the national capital Canberra.
Farrell said topics of discussion with Okonjo-Iweala included how to implement outcomes of the world trade body’s conference in June.
The WTO reached a string of deals and commitments in June aimed at protecting stocks of ocean fish, broadening production of COVID-19 vaccines in the developing world, improving food security, and reforming a 27-year-old trade body that has been back on its heels in recent years.