Former Australian PM Scott Morrison advised to be patient on India-Australia CECA agreement. He said that the agreement should focus on the service sector so that the economies of both the countries can be more strongly connected.
sydney [ऑस्ट्रेलिया]July 9 (ANI): Former Australian Prime Minister Scott Morrison on Thursday said the proposed Comprehensive Economic Cooperation Agreement (CECA) between India and Australia should deepen economic integration, especially in the services sector. He also stressed that both the countries should be patient in negotiations for a mutually beneficial deal.
Speaking to ANI, Morrison said the India-Australia Economic Cooperation and Trade Agreement (ECTA) signed with Prime Minister Narendra Modi during his tenure had laid the foundation for expanding bilateral trade ties. “When Prime Minister Modi and I agreed on ECTA a few years ago, it provided this opportunity. It was a foundational trade agreement that was a first for Australia and India and in many ways a new beginning,” he said.
Emphasis on strengthening economic relations
Expressing hope that the proposed CECA would go beyond goods trade, Morrison said, “I would like to see it go further into services sector trade. I think there are real sensitivities to agriculture in India, which Australian leaders have always understood. I hope this agreement will be as broad as possible in services, and ensure that our two economies are more tightly integrated.”
He said that strong trade partnerships become even more important in times of uncertainty in the global economy. “In a world where there is so much friction in the global economy, you want to build trade relationships and economic partnerships where you can overcome that friction because there is trust. ECTA was designed for that purpose,” he said.
Morrison warned against rushing into negotiations, saying, “Like all trade agreements, you have to be patient and wait for the best, not the worst. You don’t make a deal just for the sake of fulfillment; you make a deal because it’s in the national interest of both countries.”
Uranium exports and nuclear cooperation
Commenting on Australia’s confirmation of the arrangement enabling uranium exports to India for peaceful purposes under the 2015 Civil Nuclear Cooperation Agreement, Morrison said nuclear cooperation in Australia has long had bilateral support.
He said, “There is now a bipartisan position on both major sides of politics in Australia supporting uranium sales to India. It is no longer a controversial issue in Australia. I am pleased we will expand that partnership through today’s announcement.”
He also welcomed India’s increasing emphasis on nuclear energy. Morrison said, “I think what’s probably more important is that India is making it very clear that nuclear energy is a big part of its energy future. Prime Minister Modi is leading the way in announcing a nuclear energy future for India, and it’s an example for others, including Australia, to follow.” He said that “energy is closely linked to security, economic security and indeed national security.” (ANI)
(Except for the headline, this story has not been edited by Asianetnews Editorial staff and is published from a syndicated feed.)