Australian Minister for Trade and Investment Andrew Robb on Monday said conclusion of free trade agreement with India this year is on the government’s highest priority.
Mr Robb, who is leading a 450-strong Australian business delegation to the ‘Australia Business Week in India’, said, “Our leaders, the two Prime Ministers, have committed to concluding this deal by the end of 2015”.
The talks for a free trade agreement (FTA) between India and Australia were started in 2011.
Talking about obstacles to signing the FTA, Mr Robb said, “There are significant sensitivities with a number of agriculture areas and they have traditionally been difficult areas. So I think we have got to find ways to accommodate and deal with those sensitivities.”
Elaborating on the areas of cooperation between the two countries, Mr Robb said, Australia can help India diversify its energy base through the supply of low emission LNG and Uranium, besides cooperation in sectors such as dairy, infrastructure and logistics, among others. “As a mining superpower Australia also wants to share the technology, expertise and the capital that will help unlock India's vast mineral resources,” he said.
Trade and Investment are the backbone of the Australia-India relationship. India is Australia’s 11th largest overall trading partner with two-way trade of USD 15.2 billion.
Confirming that he met Prime Minister Narendra Modi on Sunday on the sideline of ongoing Vibrant Gujarat Summit, he said most of the time was spent of discussion of the FTA.
Asked about a timeline for conclusion of talks on the nuclear cooperation agreement, Mr Robb said, “I don't know the answer. The issues are mainly technical; the political issues have been resolved… I don't know the timing. But it is not something that's going to drag on.”
The Minister also announced a new pilot program for online lodgement of sub-class 600 visas for Indian business and tourism visitors will be rolled out through selected travel agents in India.
This trial will make it easier for Indian visitors to apply for visas to travel to Australia, he said.
