New Delhi: Prime Minister Narendra Modi met former Australian prime minister Tony Abbott right here on Thursday throughout which the duo emphasised that enhanced financial cooperation will assist each international locations higher tackle the financial challenges rising out of the Covid-19 pandemic and likewise assist them in realising their shared imaginative and prescient of a steady, safe and affluent Indo-Pacific area.
The 2 leaders mentioned methods to additional strengthen bilateral commerce, funding and financial cooperation to understand the total potential of the India-Australia Complete Strategic Partnership.
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Expressing satisfaction on the stellar progress of ties between each side in latest instances, Prime Minister Modi admired the vital contributions of his Australian counterpart Scott Morrison and former prime minister Abbott on this journey.
Prime Minister Modi additionally recalled the Digital Summit final 12 months together with his Australian counterpart and reiterated his need to have the ability to host him in India as quickly as situations allow.
On the Leaders’ Digital Summit held between Prime Minister Modi and his Australian counterpart on June 4, 2020, the bilateral relationship was elevated to a complete strategic partnership underneath which India and Australia dedicated, inter alia, to encourage expanded commerce and funding flows for mutual profit and determined to re-engage on a bilateral Complete Financial Cooperation Settlement (CECA).
In the meantime, Union Finance Minister Nirmala Sitharaman additionally met Abbott, who’s visiting India from August 2 to six in his capability of the Australian Prime Minister’s Particular Commerce Envoy for India, and held discussions on varied problems with mutual curiosity.
Abbott on his half complimented New Delhi for enterprise complete and sustained reforms programme and stated that India has continued to exhibit strong progress regardless of the disruptive affect of the pandemic.
He emphasised that Australia views India as a long-standing, valued and trusted accomplice.
Sitharaman appreciated the credible progress noticed in financial and business relations between the 2 international locations over the previous decade together with elevation of the India-Australia bilateral relationship right into a complete strategic partnership.
The Finance Minister additionally emphasised that the complementarities between each international locations present immense scope for augmenting the financial relationships.
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Sitharaman highlighted the latest financial reforms and easing of FDI norms in India present alternatives for Australian traders.
The Finance Minister supplied {that a} crew from Australia might have interaction with the Indian aspect to raised discover the avenues for funding in Nationwide Infrastructure Pipeline tasks.
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