Indian PM calls for stronger trade ties with Australia
November 18, 2014, 4:55 am

The Indian leader also sought early closure of the India-Australia nuclear deal to facilitate import of uranium [pm.gov.au]

In an address to Australia’s parliament on Tuesday morning, Modi pushed for an increased partnership between Australia and India.

Modi became the third world leader, after Britain’s David Cameron and China’s Xi Jinping, to address the Australian parliament either side of last weekend’s Group of 20 (G20) Summit in Brisbane.

“Australia has immense opportunities to participate in India’s progress,” Modi said on Tuesday morning. “In turn, India will be the answer to your search for new economic opportunities and your desires to diversify your global economic engagement.”

Australian Prime Minister Tony Abbott has said the two sides would try to eke out a free trade deal, similar to the one signed yesterday between Australia and China.

“By the end of next year we will have a free trade deal with what is potentially the world’s largest market,” he said, adding that both leaders “will make it happen”.

Australia and India agreed in April 2008 to undertake a feasibility study for a possible bilateral free trade agreement (FTA). However, after many rounds, talks are still stalled, with India’s strong defensive interests with respect to agriculture and services trade negotiations.

India needs to conclude its FTA with Australia to stay competitive amid larger regional and bilateral FTAs.

On Tuesday, Modi suggested that both Canberra and New Delhi would also profit from working together in order to improve regional security.

“Our region has seen huge progress on the foundation of peace and stability, but we can not take this for granted,” Modi said. ” Preserving it will be the most important task in the region.”

“India and Australia can play their part in it by expanding our security cooperation and depending on international partnerships in the region.”

In his speech, Modi also welcomed Australia’s deepened engagement in the Asia Pacific and Indian Ocean region, saying it holds the key to the region’s future.

“I see Australia as a major partner in every area of our national priority,” Modi told Australian lawmakers.

The Indian leader also sought early closure of the India-Australia nuclear deal to facilitate import of uranium.

After bilateral talks between Prime Minister Narendra Modi and Tony Abbott, India and Australia signed five pacts in social security, transfer of sentenced prisoners, combating narcotics trade, tourism, and Arts.

On Tuesday, Modi also referred to Abbott’s failed “shirtfront” threat to Russian President Vladimir Putin.

“(As) the third head of the government you are listening to this week, I do not know how you are doing this,” Mr Modi told members of Parliament, who were addressed by Chinese leader Xi Jinping on Monday and Britain’s David Cameron last Friday.

“Maybe this is Prime Minister Abbott’s way of shirtfronting you!” said Modi.

TBP and Agencies