PM Modi Meets Australian PM’s Special Trade Envoy, Discusses Economic Challenges Post Covid
The two leaders discussed ways to further strengthen bilateral trade, investment and economic cooperation to realize the full potential of the India-Australia Comprehensive Strategic Partnership.
New Delhi: Prime Minister Narendra Modi met former Australian prime minister Tony Abbott here on Thursday during which the duo emphasized that enhanced economic cooperation will help both countries better address the economic challenges emerging out of the Covid-19 pandemic and also help them in realising their shared vision of a stable, secure and prosperous Indo-Pacific region.
The two leaders discussed ways to further strengthen bilateral trade, investment and economic cooperation to realize the full potential of the India-Australia Comprehensive Strategic Partnership.
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Expressing satisfaction at the stellar growth of ties between both sides in recent times, Prime Minister Modi admired the important contributions of his Australian counterpart Scott Morrison and former prime minister Abbott in this journey.
Prime Minister Modi also recalled the Virtual Summit last year with his Australian counterpart and reiterated his desire to be able to host him in India as soon as conditions permit.
At the Leaders’ Virtual Summit held between Prime Minister Modi and his Australian counterpart on June 4, 2020, the bilateral relationship was elevated to a comprehensive strategic partnership under which India and Australia committed, inter alia, to encourage expanded trade and investment flows for mutual benefit and decided to re-engage on a bilateral Comprehensive Economic Cooperation Agreement (CECA).
Meanwhile, Union Finance Minister Nirmala Sitharaman also met Abbott, who is visiting India from August 2 to 6 in his capacity of the Australian Prime Minister's Special Trade Envoy for India, and held discussions on various issues of mutual interest.
Abbott on his part complimented New Delhi for undertaking comprehensive and sustained reforms programme and said that India has continued to demonstrate robust growth despite the disruptive impact of the pandemic.
He emphasised that Australia views India as a long-standing, valued and trusted partner.
Sitharaman appreciated the credible progress observed in economic and commercial relations between the two countries over the past decade including elevation of the India-Australia bilateral relationship into a comprehensive strategic partnership.
The Finance Minister also emphasised that the complementarities between both countries provide immense scope for augmenting the economic relationships.
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Sitharaman highlighted the recent economic reforms and easing of FDI norms in India provide opportunities for Australian investors.
The Finance Minister offered that a team from Australia could engage with the Indian side to better explore the avenues for investment in National Infrastructure Pipeline projects.
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