Reaffirming its commitment to boost bilateral trade with India, Australia on Monday said it accords the "highest priority" to the conclusion of a free trade agreement with with New Delhi by the end of this year.
Pointing out that Australia has inked FTAs with china, Japan and Korea, the country's Minister for trade and investment Andrew Robb said: "Our highest FTA priority is now the conclusion of a bilateral trade deal with India.
"Our leaders, the two Prime Ministers, have committed to concluding this deal by the end of 2015".The two-way trade between India and Australia stands at a relatively modest $ 15 billion a year compared with $150 billion for Australia's two-way trade with China.
Elaborating on the areas of cooperation between the two countries, Robb said: Australia can help India diversify its energy base through the supply of low emission lNG and Uranium. "As a mining superpower Australia also wants to share the technology, expertise and the capital that will help unlock India's vast mineral resources," he said.
Describing Australia and India as world-renowned agriculture producers, Robb said: "We see India as a major market for our premium products like pulses, wool, dairy and wine. We also want to help Indian producers make investments in technology, storage and logistics that will ensure strong future growth".