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Updated August 3rd, 2021 at 06:53 IST

Ex-Australian PM Abbott arrives in India for four-day visit to boost bilateral trade ties

"Abbott is in India, looks forward to meeting with ministers and think tanks to energize bilateral economic ties," Australian High Commissioner said.

Reported by: Zaini Majeed
Australia
IMAGE: AP | Image:self
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Former Australian Prime Minister Tony Abbott landed in New Delhi, India on Monday for a four-day visit to boost bilateral trade relations and hold a dialogue with the Indian leaders on the comprehensive economic cooperation agreement (CECA). Ex-Australian PM is visiting India as Scott Morrison’s “Special Trade Envoy for India” and will hold negotiations on CECA to enable a significant boost to two-way investment between India and Australia. The 2008 trade agreement was expected to generate a net increase in Australia’s GDP by up to USD 32 billion (AUD 46 billion) and India’s GDP by up to USD 34 billion (AUD 49 billion) over a period of 20 years.

"Abbott is in India from August 2 to 6, and looks forward to meeting with Indian ministers, businesspeople, and think tanks to energize the bilateral economic relationship," Australian High Commissioner Barry O''Farrell AO said.

"In particular, Abbott looks forward to discussions on the India-Australia Comprehensive Economic Cooperation Agreement, which will propel our economic relationship to its full potential, to the mutual benefit of the Indian and Australian people," he added.

The Australian High Commissioner reportedly said that Australia is keen to strengthen the economic & trade ties, and investment links with India, and furthermore take the two nation's relationship to the "next level”. The CECA negotiations were launched between the two countries in 2011 wherein the then Australian Prime Minister Turnbull and Prime Minister Narendra Modi commitment to a mutually beneficial trade and commerce agreement. As Abbott arrived in New Delhi to continue the talks on Monday, Australian High Commissioner stated, “Increasing bilateral trade and investment will help drive economic recovery from the COVID-19 pandemic, and build secure and resilient supply chains.” Furthermore, he added that  Australia-India bilateral relationship is at a "historic high”. 

"In 2020, Prime Minister Modi and Prime Minister Morrison elevated our relationship to a Comprehensive Strategic Partnership. We also committed to strengthening our economic relationship," Barry O''Farrell AO said. 

India-Australia reached MLSA deal last year

India and Australia entered a comprehensive strategic partnership in June last year after PM Modi and Australian PM Morrison signed a landmark ‘Mutual Logistics Support Agreement (MLSA)’ deal for the reciprocal access to military bases in each other’s nation for logistics support, joint military exercises between forces of two-nation, and improve interoperability between the military forces. The historic agreement was reached at the first-ever virtual bilateral summit between Indian Prime Minister Narendra Modi and his Australian counterpart Scott Morrison.

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Published August 3rd, 2021 at 06:53 IST

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