The Hindu : Business : Change likely in India-Australia trade

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Friday, Nov 23, 2007
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Change likely in India-Australia trade

Staff Reporter

High volume of trade between two countries
India could source its LNG requirement from Australia

KOCHI: Australia-India Council Chairman and the former Australian High Commissioner Darren Gribble has said that the composition of trade between Australia and India will change in the future.

Interaction between the business communities of the two countries would help improve the bilateral trade, he said. He was speaking on ‘Australia-India relations — past, present and future’, at a function organised by the Cochin Chamber of Commerce and Industry here on Thursday.

He said the volume of trade between the two countries had increased over the years. The number of migrants from India to Australia too had gone up. Memoranda of Understanding (MoUs) had been signed between the two countries for defence cooperation, research in biotechnology and to combat international terrorism. India could source its LNG requirement from Australia, he said.

The Australia-India Council had initiated programmes for the promotion of arts and culture. The Australian government was offering scholarships for studies in various subjects.

Medical professionals were being exchanged under study programmes. There was facility for the NGOs to share information on mutually beneficial topics such as disaster management. The council was also catalysing interaction on preserving heritage.

Another activity of the council pertained to the promotion of sports. Apart from being an entertainment avenue, the business aspect of sports was also required to be in focus.

Recalling the history of relations between the two countries, he said the disintegration of USSR had given an opportunity for India to look at the international scenario in a new perspective. The bond between India and Australia was strengthened during the tenure of Rajiv Gandhi as Prime Minister. The late President K.R. Narayanan had also contributed towards strengthening bilateral ties, he said.

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