The trade agreement signed between India and Australia on Saturday will help boost two-way commerce and investment between the countries, according to exporters. Federation of Indian Export Organisations (FIEO) said the pact will benefit several sectors, including apparel, textiles, leather, footwear, gems, jewellery, engineering goods and pharmaceuticals, besides services. Australia is at present India's largest export destination in the Oceania region and is amongst the top 15 export destinations, FIEO President A Sakthivel said. Gems and Jewellery Export Promotion Council (GJEPC) Chairman Colin Shah said after successfully negotiating a Comprehensive Economic Partnership Agreement (CEPA) with the UAE, India has secured preferential access for the sector in Australia. Currently, India and Australia have a significant bilateral trade of USD 950 million for gems and jewellery commodities, he said.