ARCHIVED MEDIA RELEASE
PA/5/2003 14 February 2003
Australian Trade Minister to visit India
The Australian Trade Minister, Mr Mark Vaile, will visit New Delhi from 17-19 February, accompanied by a large business delegation, representing a wide range of sectors.
Mr Vaile and the Hon Arun Jaitley, Minister of Commerce and Industry will Co-Chair the eighth meeting of the Australia-India Joint Ministerial Commission which is the key trade and economic forum between Australia and India. The Ministers will hold discussions on a range of bilateral, regional and multilateral trade and investment issues.
Mr Vaile will also have bilateral discussions with a range of other key Indian ministers, including the Ministers of Finance, Agriculture, Petroleum and Natural Gas, Human Resources Development and Disinvestment, Communications and Information Technology.
He will address the Australia-India Joint Business Council meeting being hosted by the Federation of Indian Chambers of Commerce and Industry (FICCI). He will also address the Confederation of Indian Industry (CII).
"In my discussions with Mr Jaitley and other ministers I will underline the Australian Government's strong support for our expanding commercial partnership with India," Mr Vaile said.
"I will also be supporting the Australian companies that will be accompanying me, to better access the Indian market to demonstrate to Indian business the tangible benefits of investing in Australia's robust economy."
The Australian High Commissioner to India, Ms Penny Wensley AO, said that Australia and India enjoyed a strong and diverse relationship showing healthy growth in all areas.
"Trade and investment has been growing particularly well, in both directions, with two-way trade in 2001-2002 reaching $A 3.4 billion (Rs 78.7 billion)," she said.
"Mr Vaile's visit should boost trade further and give added momentum to the overall relationship. Australia has one of the fastest growing economies in the developed world, with the second highest productivity growth in the OECD. As India's economy continues to grow and liberalise, we see significant scope for new complementarities and partnerships, creating a more substantive and sophisticated economic relationship."
Ms Wensley said that the business delegation accompanying the Minister represented the modern, vibrant and sophisticated face of Australia, showcasing technological competence and expertise which could be utilised by India.
"It will also reinforce the message that there are considerable opportunities for Indian companies to invest in and do business with Australia," Ms Wensley said.
Mr Vaile is on a three-nation tour to Japan, Singapore and India. Prior to arriving in India, he will attend an informal meeting of key WTO ministers in Tokyo to discuss the Doha round of negotiations, and hold talks with Japanese ministers on a number of bilateral trade issues. In Singapore, Mr Vaile will sign the Australia - Singapore Free Trade Agreement.
For further information, please contact Philip Lowday (First Secretary) on telephone 26888223, extension 175.