India: Australia-India Economic Agreement Raises Challenges for US-India Trade

  |   Attaché Report (GAIN)   |   IN2022-0033

The Australia-India Economic Cooperation and Trade Agreement (AI-ECTA) (signed on April 2, 2022) is a partnership agreement that aims to boost bilateral trade and investment between the two Indo-Pacific countries. The agreement must now be approved by Australia’s and India’s parliaments, but little opposition is expected for the ratification agreement in either country. Through its phased-in tariff reductions, the AI-ECTA will raise challenges for U.S. food and agricultural products in the Indian market. Commodity areas of concern include wines and spirits, cotton, pulses and beans, forest products, and tree nuts (almonds and pistachios). At the same time, India is seeking to establish a number of additional free trade agreements and or comprehensive economic partnership agreements - including with the United Kingdom, Canada, and Israel, among others.

Related Reports

Attaché Report (GAIN)

Honduras: Coffee Annual

Honduras coffee production is expected to reach 5.5 million 60-kilogram bags in marketing year 2023/24, a twenty-four percent decrease from the previous year.
Attaché Report (GAIN)

Mexico: Dairy and Products Semi-annual

Mexico’s milk, cheese, and butter production are forecast year on year growth of two percent in 2024. Dairy farmers are expected to mitigate the impacts of prolonged drought and heat conditions with previously stored forage, increased feed grain imports, and water storage mechanisms.
Attaché Report (GAIN)

Japan: Japan 260th Food Safety Group

The Consumer Affairs Agency (CAA) of Japan proposed revisions to Japan’s maximum residue levels for seven agricultural chemicals (Benthiavalicarb-isopropyl, Hexaconazole, Isopyrazam, Metaflumizone, Broflanilide, Teflubenzuron, and Phenoxyethanol) for various agricultural commodities.