Remarks, Virtual signing of the Australia-India Economic Cooperation and Trade Agreement
2 April 2022
Prime Minister: Your Excellency, my dear and trusted friend, Prime Minister Narendra Modi, to Minister Goyal and to Minister Tehan, Namaste and also g’day from here in Launceston in the island state of Tasmania. I feel it is a very timely and relevant place for me to be because this is the home of crayfish, of sheep meat, of our wool, and the many other berries and other things that form part of this agreement. I'm so pleased to be able to join you here from Tasmania today.
As Prime Minister Modi mentioned, it was only last week that we were meeting as part of a very productive annual virtual summit. But this was, of course, not the first time we've met. We've met on many, many occasions and I go back to 2014, where I had the good fortune to be seated next to Prime Minister Modi then. Prime Minister, when I was then the Immigration Minister, and it was Prime Minister Abbott who introduced us on that day back in 2014. And I also want to join with Prime Minister Modi in extending my thanks to the former Prime Minister Tony Abbott when it comes to the agreement that we've been able to reach on this day. I said then, at our virtual summit last week, that the pace and scale of our cooperation since we announced our comprehensive strategic partnership has been remarkable. Some $282 million in new initiatives that my government has announced, including at the summit, which will drive our expanding cooperation. This is the single largest Australian government investment in our relationship with India, but it won't be the last. And now we mark another milestone in that relationship, the signing of, of the AI ECTA Agreement, the Australia India Economic Cooperation and Trade Agreement.
This agreement further develops on the promise of our economic relationship, realises it. It will facilitate cheaper Australian goods to India, wool, horticulture, coal, LNG, amongst many others, supporting India's economic growth and development. It will unlock deeper cooperation in critical minerals, rare earths, which I know is an area of increasing importance to India's growing manufacturing sector and a very common topic of our discussions as part of the Quad Leaders Dialogue, which I share with Prime Minister Modi. And, it will further deepen the warm and close ties between our people by delivering increased work, study and travel opportunities. Importantly, it sends a powerful signal to our businesses and investors alike, that one of the biggest doors is now open to a great economic partnership. Two dynamic regional economies, like minded democracies, working together for mutual benefit. It also delivers a clear message that democracies are working together and ensuring the security and resilience of our supply chains. I very much want to commend both of our ministers, Minister Goyal and Minister Tehan, and the many officials for their great work and their impressive efforts in securing this outcome. I thank, also, our High Commissioner Barry O'Farrell who was sent as our High Commissioner, by myself as a dear and close friend, to be ambassador to my dear and close friend Prime Minister Modi.
I welcome our agreement today as a first step towards full comprehensive economic cooperation agreement between our two great nations by the end of the year. And, I thank you for your commitment and perseverance in securing this great achievement. I thank you also Prime Minister, for your kind wishes in relation to the Women's World Cup, and we look forward to continuing friendly competition. But when it comes to our economies, we are very much on the same team, same team pursuing the economic advancement for both of our peoples. I'm jealous of only one thing, and that was I wasn't able to be at that, what sounded like, a very nice lunch in the Delhi between our ministers and I look forward to being able to join Prime Minister Modi, hopefully in the not too distant future, where we can speak again, but this time face to face.
