New Delhi: Prime Minister of India Mr. Narendra Modi held talks with Prime Minister of Australia Mr. Abbott on bilateral, regional and multilateral issues.
Prime Minister Mr Tony Abbott renewed his invitation to Prime Minister Shri Narendra Modi to visit Australia. Prime Minister Modi accepted the invitation to undertake a bilateral visit to Australia at the time of the G20 Summit in November 2014. Both sides agreed that the visit of Prime Minister Modi to Australia will lead to strengthening of the cooperative relations between the two countries, and will provide further impetus for the future development of the strategic partnership.
The Prime Ministers welcomed the rapid growth in bilateral relations in recent years, anchored in shared values, expanding economic engagement, converging strategic interests and a growing shared agenda in regional and multilateral institutions.
The Prime Ministers affirmed their commitment to strengthening the bilateral Strategic Partnership and taking it to a new level of mutual trust.
The Prime Ministers welcomed the signing of the bilateral Civil Nuclear Cooperation Agreement as a concrete symbol of the bilateral partnership. They noted the Agreement would enable the sale of Australian uranium to support India’s growing energy needs and directed the negotiators to conclude the Administrative Arrangements at an early date. Economic Engagement
The Prime Ministers underlined the priority they attached to building the economic partnership, which was a pillar of the relationship. They recommitted both countries to expand trade further for
mutual benefit and as a long term and sustainable boost to economic growth in both countries. They agreed there was significant scope to boost investment and collaboration in both directions in infrastructure, resources, agriculture, manufacturing, health, education and other sectors to increase efficiencies, introduce new technologies and develop innovation and skills.
Prime Minister Abbott welcomed growing Indian investment in Australia and underlined Australia’s commitment to providing a stable investment environment and streamlined approvals process. Prime Minister Modi too welcomed Australian investments in a range of infrastructure, resources, technology and other projects in India.
The Prime Ministers welcomed the progress towards a Comprehensive Economic Cooperation Agreement (CECA) would support a significant expansion of two-way trade and investment. They renewed the commitment of both countries for an early conclusion of an equitable, balanced, comprehensive and high quality agreement.
The Prime Ministers noted the expanding bilateral dialogue on economic policy, including in areas such as taxation, competition, financial sector regulation and infrastructure.
The Prime Ministers welcomed the delegation of senior Australian business leaders who had accompanied Prime Minister Abbott on his visit. They agreed that economic engagement and business partnerships should be strengthened through a revitalised CEO Forum and encouraged regular exchange of business and trade missions and the convening of an India-Australia Business Summit in Delhi in early 2015.
Sanjay Trivedi is honorary editor of Asia Times. He is senior Indian Journalist having vast experience of 25 years. He worked in Janmabhoomi, Vyapar, Divya Bhaskar etc. newspapers and TV9 Channel as well as www.news4education.com. He also served as Media Officer in Gujarat Technological University.