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SYDNEY, AUSTRALIA - AUSTRALIA and India will begin talks next week on the possibility of a free trade agreement (FTA), Australian Trade Minister Simon Crean said on Friday.
Mr Crean said the two countries had agreed on a framework for the free trade feasibility study after the Indian Prime Minister Manmohan Singh personally approved the terms of reference.
'Given the complementary nature of our economies in so many areas this is an exciting prospect,' Mr Crean said in a statement.
'The FTA study will consider the feasibility of a comprehensive World Trade Organisation-consistent agreement covering trade in goods, services and investment.'
Mr Crean said India was Australia's sixth largest and fastest growing major export market.
He said talks on the feasibility study would open in New Delhi next week and it was expected to be completed by early 2009. -- AFP
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