Australian dairy exporters have asked the Indian government for a free trade agreement (FTA) in a bid to improve the access to the country’s huge market. The local dairy exporters were now seeking the FTA with India in the face of stiff tariff barriers of between 30 and 60 per cent on dairy products. Australian dairy product exports to India stood at 1.2 million dollars in 2013-14.
What is Free Trade Agreement?
A free-trade area is the region encompassing a trade bloc whose member countries have signed a free trade agreement (FTA). Such agreements involve cooperation between at least two countries to reduce trade barriers—import quotas and tariffs— and to increase trade of goods and services with each other.
Daily Products:
- A dairy product or milk product is food produced from the milk of mammals.
- Dairy products can cause health issues for individuals who have lactose intolerance or a milk allergy.
- can contribute significant amounts of cholesterol and saturated fat to the diet.
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