India-Australia ECTA has opened up newer avenues of trade, investment: PM Modi

New Delhi(| Prime Minister Narendra Modi on Friday said the India-Australia Economic Cooperation and Trade Agreement signed last year has opened up newer avenue of investment and trade between both nations, as he held the first annual summit talks with visiting Australian Prime Minister Anthony Albanese here. In his media statement, after the two sides concluded their talks, PM Modi said the two sides are working on the Comprehensive Economic Cooperation Agreement.

He also said that defence and security are a major pillar of the bilateral relationship and they had talks on boosting bilateral maritime security cooperation and cooperation in defence and security.Referring to PM Albanese’s visit to Ahmedabad on March 8 and his participation in Holi celebrations there and watching the India-Australia Test Match there, PM Modi said, that the celebration of “Colours, culture and cricket” is an example of the bilateral enthusiasm and happiness.

The two sides held discussions on maritime security in the Indo-Pacific region.They also discussed logistics support, and enhancing exchange of timely information between the security apparatus.The two sides also discussed the importance of having trusted and reliable supply chains.“Renewable Energy is a subject of focus for both nations, and we are working together in the area of clean hydrogen and solar,” he said.

He said that people to people relations is a major foundation of the ties, and both sides have inked an agreement on mutual recognition of their educational qualifications.Both sides are working on a Mobility Agreement that would be useful for students, workers and employees, he added.

He said that PM Albanese and he are in agreement that their bilateral ties are for global good and will help tackle global problems.PM Modi explained India’s G20 priorities to PM Albanese, and both leaders also discussed their cooperation as part of the Quad.He thanked the Australian PM for his invite to attend the Quad Leaders’ Summit in May, and said that in September this year he will get an opportunity to welcome PM Albanese to India again for the G20 summit in India.(UNI)