INDIA-AUSTRALIA FREE TRADE AGREEMENT YIELDS STUNNING RESULTS, SAYS AUSTRALIAN ENVOY PHILIP GREEN
Indo-Australia trade is on a great trajectory thanks to the recently launched Free Trade Agreement – Economic Cooperation and Trade (ECTA) and India’s exports to Australia have increased significantly. Australia is actively exploring the possibilities of building the capital city of Amaravati in Andhra Pradesh (AP), Australian High Commissioner Philip Green said.
Speak with The Hindu before meeting Andhra Pradesh Chief Minister N. Chandrababu Naidu at Amaravati, Mr Green said: “Over the last five years, India’s exports to the world have increased by about 37%, but during the same period, exports of goods to Australia have increased by 66%, almost double.”
The results of the recently signed ECTA (Economic Co-operation and Trade Agreement) are astonishing. There is a 77% utilisation rate by traders and key sectors in the last four months of this year, Indian exports of garments are said to have increased by over 20%, iron and steel by 25%, agriculture exports by 30%.
Explaining the purpose of his visit to Amaravati, Mr Green said he had come to congratulate Mr Naidu on his historic victory and wish him another term as CM. The visit is also aimed at exploring development opportunities in the capital city of Amaravati. “We can talk about a number of sectors that Australia is interested in getting into – Education, Agriculture, Water Management, Green Energy Supply Chain etc. You may be aware that Canberra, the capital of Australia, was born out of three sheep farms. And it is now one of the most beautiful capital cities in the world. I will listen very carefully to what Chief Minister Mr Naidu has to say about the plans for Amaravati,” he said.
Australia is also focusing on exporting clean coal, essential minerals for green hydrogen, green battery production, green steel, iron ore and solar panels needed for roofs. “Mr Modi wants to have more than 10 million solar roofs across the country, which is a huge opportunity for Australia,” Mr Green said.
He praised the contribution of the Indian diaspora in Australia in the IT, business and other service sectors. The Indian community comprises more than a million people, out of Australia’s 26 million population. “It is the fastest growing community in our country. Last year, more than 100,000 visas were issued to people from India,” he said. He also wished the diaspora to play a positive role in bilateral relations. (EM)
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