2 months ago

Free Trade Agreement Marks A New Phase In Indo-Australia Relationship.

The Financial Express
The Financial Express
Indo-Australia Relation: On 22 November, Australia’s Parliament passed a bilateral Free Trade Agreement with India. On a historic day, Australian High Commissioner Barry O'Farrell sparks with Manish Kumar Jha of Financial Express. The deals are crucial for Australia to diversify its exports to India and forge new bilateral trade relations. As projected by the leaders from both sides, this would help in taking bilateral trade from USD 27.5 billion at present to USD 45-50 billion in the next five years. The rectification of the Economic Cooperation and Trade Agreement (ECTA) will unfold immense potential in trade and investment. It will open and unlock joint cooperation in critical minerals, cyber, and new and renewable energy. Barry says the new trade deal will create many thousand jobs across the sector.
Defence and security: In the conversation, High Commissioner Barry outlines the new era of defence and security cooperation with India. Leveraging the strategic relationship, how can India and Australia build military technologies together, especially in the maritime field? Australia’s naval shipbuilding sector has good expertise also submarines like the Collins Class. India is also working towards its ambitious submarine program. Crucially, the discussion also highlights Australia's current outreach in the Pacific, especially in the wake of the security pact between the Solomon Islands and China. The threat is visible. HC Barry lays out the new dimensions of Australian foreign policy and action-plan for countering China.

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