{"id":130957,"date":"2023-03-11T12:05:33","date_gmt":"2023-03-11T06:35:33","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=130957"},"modified":"2023-03-11T12:05:35","modified_gmt":"2023-03-11T06:35:35","slug":"australia-india-agree-on-strengthening-economic-defence-ties","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/australia-india-agree-on-strengthening-economic-defence-ties\/","title":{"rendered":"Australia, India agree on strengthening economic, defence ties"},"content":{"rendered":"\n<p><strong>Australia, India agree on strengthening economic, defence ties: <\/strong>Australia and India have agreed to accelerate a broader economic partnership and to boost their defence ties, Australian Prime Minister Anthony Albanese said in New Delhi.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.gkseries.com\/blog\/category\/daily-quiz\/daily-quiz-march-2023\/\" target=\"_blank\" rel=\"noreferrer noopener\">March 2023 Current Affairs Quiz<\/a><\/strong><\/p>\n\n\n\n<p><strong>Progress in Economic ties between India &amp; Australia:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Last year, the two countries signed the Economic Cooperation and Trade Agreement (ECTA), India&#8217;s first free trade agreement with a developed country in a decade.<\/li>\n\n\n\n<li>However, a much larger Comprehensive Economic Cooperation Agreement (CECA) has been stuck in negotiations for over a decade.<\/li>\n\n\n\n<li>Talks between the countries resumed in 2011, but were suspended in 2016 due to gridlock. Negotiations resumed in 2021, but a deal has yet to be reached.<\/li>\n<\/ul>\n\n\n\n<p><strong>Significance of the Economic ties between India &amp; Australia<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>This transformational deal will realise the full potential of the bilateral economic relationship, creating new employment opportunities and raising living standards for the people of both Australia and India.<\/li>\n\n\n\n<li>Bilateral trade between the countries was $27.5 billion in 2021, with India claiming that under the ECTA, trade could nearly double to $50 billion in five years.<\/li>\n<\/ul>\n\n\n\n<p><strong>Defence ties between India &amp; Australia:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>India and Australia are security partners through the Quad group, which also includes the United States and Japan.<\/li>\n\n\n\n<li>Security cooperation is an important pillar in the comprehensive strategic partnership between India and Australia,\u201d PM Modi said at a joint press briefing after a private meeting.<\/li>\n\n\n\n<li>Australia and India made \u201csignificant and ambitious\u201d progress in strengthening defence and security ties and also discussed climate change issues, Albanese said.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Australia, India agree on strengthening economic, defence ties: Australia and India have agreed to accelerate a broader economic partnership and to boost their defence ties, Australian Prime Minister Anthony Albanese said in New Delhi. March 2023 Current Affairs Quiz Progress in Economic ties between India &amp; Australia: Significance of the Economic ties between India &amp; [&hellip;]<\/p>\n","protected":false},"author":894,"featured_media":130958,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5004],"tags":[69,82,58],"offerexpiration":[],"class_list":["post-130957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-march-2023","tag-defence-current-affairs","tag-economy-current-affairs","tag-international-current-affairs"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/130957","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/894"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=130957"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/130957\/revisions"}],"predecessor-version":[{"id":130959,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/130957\/revisions\/130959"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/130958"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=130957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=130957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=130957"},{"taxonomy":"offerexpiration","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/offerexpiration?post=130957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}