Australian Prime Minister Anthony Norman Albanese on Friday said that his country will be looking at finalising the comprehensive economic cooperation agreement (CECA) with India this year to further boost employment, green energy projects.
"CECA will open new employment opportunities for both countries. We will finalise and hope for an early conclusion of CECA this year. Australia has eliminated tariffs on 85 percent goods exported to India according to the trade agreement signed last year between the two countries," he said.
The two countries signed the Australia-India Economic Cooperation and Trade Agreement (ECTA), an interim trade agreement in 2022. The two countries are also working towards a mobility and migration agreement for workers, students and professionals in high-tech sectors.
"We are moving forward on a mobility agreement with Australia," Prime Minister Narendra Modi said.
Albanese said that considerable progress has been made in discussions on the mobility agreement which will be carried forward in the next meeting of the two leaders.
A joint task force has also been set up to advise on enhancing supply chains between the two countries.
"We discussed potential agreement to support green projects, solar and hydrogen cooperation which is critical to achieve energy goals. Cooperation in trade, investment, defence, security, climate, energy has strengthened between the two countries," Albanese said.
Modi in his statement said that the bilateral relation between the two countries will help overcome the global challenges.
Modi will visit Australia for Quad Leader's Summit in May, while Albanese will be back in India for the G20 summit in September.
"India, Australia discussed security cooperation which is a part of comprehensive strategic partnership. We discussed increase in maritime security in Indo-Pacific region. We have increased cooperation in logistics support for our armies earlier. We have deepened exchange of information among security agencies of the two countries. The General Rawat exchange program for young army officials has been started from this month between the two countries," Modi said.
India and Australia had last year agreed to hold prime ministerial level bilateral summit every year.
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