India & Australia aim to push bilateral trade to 100 billion dollar in next five-years

Union Commerce and Industry Minister Piyush Goyal today, March 11, said Australia and India will aim for 100 billion dollar trade in the next five years as they are dissatisfied with the 30 billion dollar of trade between the two nations.

He was addressing the media in New Delhi on India-Australia 18th Joint Ministerial Commission with Australian Trade and Tourism Minister Don Farrell.  He said that India and Australia have some critical talents at government, business, and people-to-people levels and together the two countries can make a tremendous difference in the world. Mr. Goyal said the two nations have welcomed the resumption of the negotiations for the second stage of the Economic Cooperation and Trade Agreement, where they can collaborate and cooperate with each other on a much wider level.

He added that like two brothers, both nations are working together on a wide variety of subjects. He highlighted that India and Australia share democratic values including rule of law, and transparent systems and the two countries complement each other. He also said the two nations are looking to capitalise on the win-win opportunities in innovation, defence, space technology, education, and energy systems. Mr. Goyal added that the focus is to leverage each other's competencies for mutual interests and growth.

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