Photo by: Reuters
PERTH (miningweekly.com) – Australian Prime Minister Tony Abbott and his Indian counterpart Narendra Modi have prioritised the resources sector as one of the key areas for shared commercial growth, following the G20 summit in Brisbane.
In a joint statement this week, the two Prime Ministers noted that energy was a central pillar of the economic relationship, with both parties agreeing to expedite progress towards an early implementation of the Civil Nuclear Agreement, signed in September this year, which would allow for Australian uranium to be exported to India.
“This is the time to get this done. This is the time to turn the warm friendship between Australia and India, the long history that Australia and India have together, into something that will be meaningful, more meaningful for us, and significant for the wider world, and I think this Australian government has the runs on the board when it comes to free trade,” Abbott said this week, making reference to a recently completed free trade agreement with China, and a similar agreement already in place with Korea and Japan.
“We didn't just discuss trade; we discussed energy security and Australia's readiness and willingness to supply uranium to India for peaceful purposes.”
The Prime Ministers also agreed to expedite approvals for key mining investment projects, with Indian investment in the Australian resource sector promising to create jobs and value for the Australian economy.
The two parties also agreed to cooperate on clean coal technologies and welcomed the intention to explore opportunities for partnership between Australian institutions and the Indian School of Mines in Dhanbad.
“India and Australia have a great economic synergy. There are huge opportunities for a partnership in every area we can think of: agriculture, agro-processing, resources, energy, finance, infrastructure, education and science and technology,” Prime Minster Modi said this week.