India and Australia today sought early conclusion of negotiations for a comprehensive economic partnership agreement and a closure on the civil nuclear deal as Prime Minister Narendra Modi and his Australian counterpart Tony Abbott held talks in Canberra. After the two leaders held talks, India and Australia signed five pacts on social security, transfer of sentenced prisoners, combating narcotics trade, tourism, and art and culture.
Addressing a joint press conference after the talks, Mr Modi said, the two countries agreed on seeking early closure on the civil nuclear agreement, which will give Australia a chance to participate in one of the most secure and safe nuclear energy programme in the world. Later, while addressing the Parliament, Australian Prime Minister said, if all goes well, Australia will export uranium to India under suitable safeguards because cleaner energy is one of the most important contributions that Australia can make to wider world.
Mr Modi said, there are huge opportunities for partnership in every area we can think of — agriculture, agro-processing, resources, energy, finance, infrastructure, education, and science and technology. He said, India views Australia as a vital partner in India's quest for progress and prosperity.
Mr Abbott told Parliament that by the end of the next year, the two countries will have a Free Trade deal with what is potentially the world's largest market.” Mr Modi emphasized that the economic climate in India has changed and it is a lot easier to convert opportunities into concrete outcomes.
Mr Modi also announced that India will organise a 'Make in India' show in Australia in 2015 while Australia would hold a business week in India in January next year. Mr Modi said, they discussed with Mr Abbot what the two countries should do to impart real momentum to our economic partnership and reconstituting the CEO Forum is an important step.
Mr Modi said, they have agreed to speed up negotiations on the Comprehensive Economic Partnership Agreement. The Prime Minister said, he also asked for easier access for Indian business to the Australian market and quicker investment approvals.
