INDIA- AUSTRALIA REAFFIRM COMMITMENT TO WORK FOR SUCCESSFUL COMPLETION OF DOHA ROUND
TO EXPEDITE CONSTITUTION OF INDIA-AUSTRALIA CEO’s FORUM
12TH MEETING OF INDIA-AUSTRALIA JOINT MINISTERIAL COMMISSION HELD
Date : 04 May 2010
Location : New Delhi
Shri Anand Sharma, the Union Minister of Commerce & Industry and Mr. Simon Crean, the Australian Trade Minister while reviewing India-Australia bilateral trade and investment relations, welcomed the continued rapid expansion and the strengthening of economic ties between the two countries. The Ministers agreed that there remained significant potential for sustained growth in trade and investment flows between the two countries. They were participating at the 12th meeting of the India-Australia Joint Ministerial Commission (JMC) held here today.
During the meeting, the Ministers released the Report of the India-Australia FTA Joint Feasibility Study Group. They noted that the Joint Study Group had recommended negotiation of a comprehensive bilateral FTA and endorsed the feasibility study recommendation noting that both sides would need to undertake further internal processes before negotiations could be launched.
The Ministers also reviewed the current status of bilateral cooperation in important sectors such as minerals, energy, environment, information and communication technology, science and technology, biotechnology, education and training, tourism, financial and other services, agriculture, retail, and infrastructure.
Both sides agreed to expedite constitution of the India-Australia CEOs Forum and looked forward to Australia hosting the first meeting of the Forum. The Ministers welcomed the opportunity to engage with the India-Australia Joint Business Council and underlined the importance of greater contact between Australian and Indian business
The Ministers also reaffirmed their commitment to work for the successful completion of the Doha round of negotiations.