Australian Prime Minister Anthony Albanese, who is on a 4-day official visit to India, on Thursday said the Economic Cooperation and Trade Agreement (ECTA) signed between the two countries is a transformative agreement, which will unlock the next level of potential in trade and investment.
Albanese is on a visit to India at the invitation of Prime Minister Narendra Modi and is accompanied by a delegation of ministers and business leaders during his four-day trip.
He arrived in Ahmedabad on Thursday afternoon and visited Mumbai before arriving in New Delhi later in the day.
Addressing the India-Australia CEO forum in Mumbai on Thursday, Albanese expressed his sincere appreciation for the large turnout of Australian investors that came to India as well as for the key Indian business houses that participated in the event. He added that the delegation of Australian investors is one of the most serious and high-profile ones to have visited India from Down Under.
The Australian PM also voiced optimism about the complementarities between both nations, saying that this juncture is a turning point in accelerating economic cooperation and mutual benefits in the relationship between the two countries.
Union Minister Piyush Goyal also participated in the CEO Forum along with Senator Don Farrell, minister for Trade and Tourism in the Australian government.
Goyal noted that the current goal of doubling the bilateral trade must be reset by the industries and CEOs present there as there was great potential to increase trade manifold between the two nations. He also reiterated the growth potential of the bilateral trade and investments between India and Australia.
Earlier on Wednesday Prime Minister Narendra Modi said he is looking forward to deliberations with his Australian counterpart Anthony Albanese to further the friendship between the two countries.
