World News | Ind-Aus ECTA Will Create Job Opportunities for Both Nations: Australian Trade Minister

Melbourne [Australia], April 6 (ANI): India and Australia Economic Corporation Trade Agreement will help create job opportunities for both countries, said Australian Trade Minister Dan Tehan on Wednesday.

Speaking to ANI, the trade minister said that due to the friendship between both countries, there are many opportunities that will spring out of the India-Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA) agreement.

Also Read | Guns, Tanks and Twitter: How Russia and Ukraine Are Using Social Media As the War Drags On.

"It's gonna bring out the two economies closer together, which will provide jobs here in India and Australia," he told ANI.

Furthermore, He thanked Union Commerce Minister Piyush Goyal for the hard work he made for Ind-Aus ECTA agreement and said that due to the friendship between India and Australia, there are many opportunities that will spring out of this agreement.

Also Read | Earthquake in China: Quake of Magnitude 5.1 Hits Sichuan Province.

"Due to the friendship between the two countries, there are many opportunities that will spring out of this agreement -- whether it is research and development and including other areas where we can collaborate in other areas. It will bring out the two economies closer together so that we can work together on geo-strategic cooperation," he said.

The newly signed trade pact with Australia is expected to take bilateral trade from the existing USD 27 billion to nearly USD 45-50 billion in the next five years and the government expects one million jobs to be created in India in the next four to five years.

The India-Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA), was signed on April 2, 2022, between Indian Commerce and Industry Minister Piyush Goyal and Australian Minister for Trade, Tourism and Investment, Dan Tehan, in a virtual ceremony in presence of Indian PM Narendra Modi and Australian PM Scott Morrison.

Union Commerce Minister Piyush Goyal on Wednesday paid a visit to the University of Melbourne as part of his three-day visit to Australia. He was accompanied by Australia's Trade Minister Dan Tehan and Allan Myers, Chancellor, University of Melbourne, at the Melbourne Law School in The University of Melbourne. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)