Image Courtesy : www.facebook.com/PiyushGoyalOfficial and www.facebook.com/DanTehanWannon

Indian and Australian officials recently held a meeting to exchange their respective proposals to shrink the trade barriers. Earlier, the officials also met to sap proposals on services.

According to the Australian Financial Review's reports, the Indian Ministry for Trade and Commerce has been holding discussions with its Australian counterparts to conclude the extensive Economic cooperation between the two nations. This agreement is expected to ease the procedure of recruiting Indian IT professionals for work in Australia.

As most of the learning and working has been shifted at home due to the COVID pandemic, the Australian Govt has been struggling with the shortage of IT talent. According to the estimate by the tech council of the country, the gap in the workforce is expected to expand to 2,60,000 by the end of 2025.

The Australian Govt, with this free trade agreement, aims to bridge the gap of IT professionals by recruiting available talent from India.

The objective of this agreement is to boost the economic exchange between these two nations.

Both the countries are expecting to finalize the framing of the agreement by the end of the year.

According to another report, the Indian Ministry, with the signing of the agreement, contemplates the bilateral trade of these countries to grow by $100 billion within 05 years. The Ministry also plans to sign the same agreement with UK and UAE in 2022.

Had a productive discussion with my good friend Australian Trade Minister @DanTehanWannon to fast-track India-Australia Comprehensive Economic Cooperation Agreement negotiations.



Both sides working to identify new opportunities & increase trade & investment into our countries. pic.twitter.com/3Y63Cf3KYO

— Piyush Goyal (@PiyushGoyal) January 14, 2022