Australian Trade Commission to Increase Presence in India

By admin • May 18th, 2010

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Trade relations between India and Australia look to strengthen with the Australian Trade Commission planning increasing their presence in India by opening new offices this year, which would take their total to 11 offices from 6.

Bilateral Trade between India and Australia is growing at a rate of 15% and presently stands at AUD$ 21 billion. A large section, AUD$ 15 billion, of this trade comes from commodities such as coal, non-monetary gold and copper.

India was Australia’s sixth largest export market last year, but since then has now become their fourth, a sure sign that bilateral trade between the two economies is growing.

Peter Forby, the Australian Consul General for Western India and Trade, has indicated that they plan to open the first of their new offices in Gujarat, Ahmedabad. He said “Gujarat is a very significant business destination for Australian companies. Australia can provide value-added competitive solutions and expertise both in traditional and emerging sectors for businesses in Gujarat”. Peter also mentioned the potential for Australian interest in Gujarat includes food and beverages, hospitality, infrastructure, building and construction, clean energy, mining and resources, agribusiness, and education.

Previously this month both Australia and India said they were to push forward negotiations on a free trade agreement. Australia’s minister for trade said that the agreements would allow both countries to open their agricultural markets, goods and services and investment.




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