In a bid to strengthen trade partnership with India, Australian Trade Minister Mark Vaile will arrive in New Delhi on Monday to chair the eighth Australia-India Joint Ministerial Commission meeting with Union Minister for Commerce and Industry Arun Jaitley.
"I will underline the government's strong support for our expanding commercial partnership with India," Vaile told reporters on Wednesday, on the eve of his departure for a three-nation tour to Japan, Singapore and India.
He said he will use the joint ministerial meeting, being held after a gap of two years, to support the Australian companies in finding better access to the Indian market and to demonstrate to Indian businessmen the benefits of investing in Australia's robust economy.
Over 50 delegates from Australian companies and institutions will be accompanying the minister to further enhance trade links between the two countries.
During the three-day visit, Vaile will also meet other important leaders, including the ministers for finance, petroleum and natural gas, human resource development, divestment and information technology.
Observing the general trend in the bilateral ties between the two countries, the Indian High Commissioner to Australia R S Rathore said, "I am very optimistic of the outcome of this high-level visit as there are many potential issues, which require attention for further strengthening and expanding our trade and economic ties."
Vaile said India is a very important growing market in South Asia and that Australia sees the development of a relationship as being significant.
"We currently have a 1.6 billion dollar trade surplus with India that is significantly based on commodities, but we want to see that expand and develop into a broader trade and investment relationship," he said.
During the India tour, Vaile will also address the Australia-India Joint Business Council meeting under the auspices of the Federation of Indian Chambers of Commerce and Industry and the Confederation of Indian Industry.
Neville Roach, chairman of AIBC said, "We welcome the visit of the trade minister as a clear signal of the importance that the Australian government places on trade and investment links between Australia and India.
"We are delighted with the depth of interest shown in the joint business council," Roach said.
The JBC will significantly increase the traditional two-way opportunities in commercial sectors between India and Australia, which have been growing rapidly in recent years, he said.
Furthermore, there is a huge scope for new innovative relationships between companies in the two countries enabling them to market their products and services jointly in the global market, he added.
© 2024 Rediff.com -