India and Australia have tentatively agreed on a bilateral economic partnership agreement.
It seems that the aim is to deepen economic cooperation and reduce dependence on China, which is the largest trading partner for both countries.
India's Prime Minister Modi and Australia's Prime Minister Morrison attended an online signing ceremony on the 2nd and tentatively agreed on a bilateral economic partnership agreement.
The agreement is expected to be formally agreed and put into effect by the two countries, with more than 85% of Australia's exports to India and 96% of India's exports to Australia benefiting from tariff elimination. ..
Under this agreement, India and Australia are expected to deepen their economic ties and reduce their dependence on China, which is their largest trading partner.
India has been declining with China, and tensions have continued, such as armed clashes in the disputed zone near the border, and Australia has also taken measures to add tariffs on barley, and relations with China have deteriorated.
India and Australia, together with Japan and the United States, have created a framework of four countries called "quads" and are deepening their security and economic cooperation with China in mind.