Daily Current Affairs
Which country's Parliament has passed Free Trade Agreement with India on 22nd Nov 2022?
New Zealand
United Kingdom

Correct Answer : Option (B) - Australia

Australian Parliament has passed the country's Free trade Agreement (FTA) with India Tuesday(22nd Nov 2022), announced Prime Minister Anthony Albanese on his official Twitter handle.

The deals are crucial for Australia to diversify its exports from the troubled Chinese market to India and to forge new bilateral trade relations.
Trade Minister Don Farrell said India had demonstrated its commitment to the bilateral economic partnership through the quality of the deal struck.
Once implemented, the trade agreement will provide duty-free access to the Australian market for over 6,000 broad sectors of India, including textiles, leather, furniture, jewellery and machinery.
Under the pact, Australia is offering zero-duty access to India for about 96.4% of exports (by value) from day one. This covers many products that currently attract 4-5% customs duty in Australia..

Source : Mint

Published On : November 22, 2022