ABOUT THE GREAT BARRIER REEF
The Great Barrier Reef is the world's largest coral reef system
The reef is located in the Coral Sea, off the coast of Queensland, Australia.
The Great Barrier Reef can be seen from outer space and is the world's biggest single
structure made by living organisms.
TEXTILES
Australia also just signed a Memorandum of Understanding
(MoU) on textiles – Australia is a big producer of wool, and India
is a big producer of textiles.
Australia is a leading producer of wool
TOURISM
Indian visitors are expected to contribute 1.9 billion dollars to the
Australian economy by 2020, Australia's Trade Minister said, describing
India as an important trade and investment partner.
• For the year-ending March 2017, Australia welcomed 274,500
visitors from India, 15.3 per cent more than the previous year
•
Comprehensive Economic Cooperation Agreement (CECA)
(proposed bilateral Free Trade Agreement)
• Regional Comprehensive Economic Partnership
• Regional Comprehensive Economic Partnership (RCEP) is a
proposed free trade agreement (FTA) between the ten member
states of the Association of Southeast Asian Nations (ASEAN)
(Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the
Philippines, Singapore, Thailand, Vietnam) and the six states with
which ASEAN has existing free trade agreements (Australia,
China, India, Japan, South Korea and New Zealand)
A few weeks ago, Australia sent a large trade delegation for Australia
Business Week, headed by its Trade Minister, and accompanied by three
federal ministers, two state-level ministers, and 176 businesspeople from
sectors like urban infrastructure, digital health, innovation, and higher
education
WHAT DOES INDIA STAND TO GAIN?
Mining and agriculture are Australia’s strengths, with services and education close
behind.
But India has plenty of iron ore, and agriculture makes up a big part of the Indian
economy, so what can Australia offer? “Know-how,” Australians are good at systems of
operation – finding ways to do things efficiently and quickly – something that India
could definitely benefit from.
Wheat being a water-intensive crop
Given India's increasing water disputes – internally and with neighbours – and a heating
planet, this know-how could prove invaluable. Australia
INDIA – AUSTRALIA URANIUM DEAL
The country holds 29 percent of the world’s known recoverable uranium resources.
The supply deal with India, signed in 2014, is the first of its kind Australia has made
with a country not party to the nuclear non-proliferation treaty.
The first shipment was sent to India in 2017
In 2009, the two signed a Strategic Partnership agreement, and in 2014,
Prime Minister Narendra Modi became the first Indian PM to visit
Australia in 26 years.
OTHER ASPECTS
Australia supports India’s bid as a permanent member of
the security council
AUSINDEX
Australia wants to be a part of the Malabar naval exercise
Asked if China's growing influence in the
region will affect Indo-Australian ties, she
said, "China has grown tremendously
economically and in the process has lifted
people out of poverty in the country. That
we must not lose sight of".
"And, a country with a growing economic
weight tends to assert its strategic weight
too. But having said that, the actions (by
the country) have to be responsible and in
line with international norms," Sidhu said.