India in Talks with Australia for Bilateral Free Trade Pact, Says Jaishankar
4 years ago

India in Talks with Australia for Bilateral Free Trade Pact, Says Jaishankar

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India and Australia are in discussions for a bilateral free trade agreement, Indian Foreign Minister Subrahmanyam Jaishankar said on Wednesday, following New Delhi's decision to walk out of a China-backed trade bloc. "There is a discussion on a free trade agreement, a bilateral free trade agreement as well because, as you know, we didn't sign the RCEP," Jaishankar said in an interview with Australia-based Lowy Institute, a foreign policy research group. Fifteen Asia-Pacific economies signed the RCEP last month, forming the world's largest free trade bloc that excludes the United States. Jaishankar also said India and Australia would have "very strong defence ties", adding he hoped for strong trade cooperation.

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