Australian and Indian architects will benefit from the new trade agreement signed recently by Australia and India, with mutual recognition of professional qualifications and registrations to be facilitated as part of the commitments.

The Australia India Economic Co-operation Trade Agreement (AI-ECTA) is expected to strengthen the relationship between the two countries while making Australian exports to India cheaper and creating new opportunities for workers and businesses.

One of the significant sections of the interim agreement relates to professional services, which holds relevance for Australia’s architecture industry. The AI-ECTA will create new opportunities for Australian services suppliers and professionals doing business in India.

According to the agreement, India has guaranteed Australian services suppliers in 31 sectors and subsectors the equivalent to the best treatment accorded to its future FTA partners. Sectors that will benefit from these arrangements include, among others, architectural and urban planning services.

“India has agreed to implement a framework to facilitate the mutual recognition of qualifications, licensing and registration procedures between professional services bodies. Australian professionals such as architects, engineers, and accountants will benefit as this framework will help improve the recognition of professional qualifications, and promote two-way mobility,” the AI-ECTA stated.

Minister for Trade, Tourism and Investment Dan Tehan said the AI-ECTA would also further strengthen the people-to-people links between the two countries.

“This agreement will turbocharge our close, longstanding and highly complementary economic relationship in areas such as critical minerals, professional services, education and tourism,” Minister Tehan said.

“It will create new opportunities for jobs and businesses in both countries, while laying the foundations for a full free trade agreement.”

In 2020, India was Australia’s seventh largest trading partner, with two-way trade valued at $24.3 billion, and sixth largest goods and services export market, valued at $16.9 billion.

As per the AI-ECTA, tariffs will be eliminated on more than 85 percent of Australian goods exports to India (valued at more than $12.6 billion a year), rising to almost 91 percent (valued at $13.4 billion) over 10 years.

AI-ECTA is an interim agreement and both countries will continue to work towards a full Comprehensive Economic Cooperation Agreement.

Image: https://www.ummid.com/news/2017/June/29.06.2017/architects-want-indian-architectural-services.html

Architecture News & Editorial Desk

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