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Strengthening the Australia-India trade and investment relationship

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The Hon Justine Elliot MP Parliamentary Secretary for Trade Strengthening the Australia-India trade and investment relationship Media release

9 November 2010

The Parliamentary Secretary for Trade, Justine Elliot, told an audience in Kolkata today that Australia's growing energy

and resources relationship with India was an important foundation for the strategic partnership launched by Prime

Ministers of the two nations in 2009.

On her first official visit to India, Ms Elliot told the Australian Mining and Resources Seminar that India was a natural

partner for Australia.

"Australia and India share strong interests and values and we are working to reshape our relationship in the long-term

interest of both nations.

"Australia is a key supplier of the resources India needs to fuel its economic growth and it is well positioned to continue

to meet this demand," Ms Elliot said.

India is now Australia's third largest export market, up from 13th a decade ago, and our 7th largest two-way trading


In 2009 two-way trade grew to almost $21 billion—a 9.5 per cent increase on the previous year.

Ms Elliot said Australia was already a major exporter of coal, gold, and copper ores to India and that India's rapid

growth means there are bright prospects for industries such as Liquefied Natural Gas.

Australia's natural resource base and expertise in mining services could serve as the basis for a stronger partnership in

mining and greatly increase the two-way investment relationship.

Ms Elliot highlighted the growing official dialogue through the Australia India Joint Working Group on Energy and

Minerals and the five action plans agreed on in 2008.

Ms Elliot will address the 10th International Mining and Machinery Exhibition (IMME) in Kolkata tomorrow, which was

arranged with the assistance of the Confederation of Indian Industry.

IMME is India's leading mining event and one of the largest exhibitions in Asia, bringing together global players in the

mining sector and providing the opportunity for Australia and India to share their expertise.

This year Australia is a Partner Country for IMME and a large delegation of Australian companies is attending.

With assistance from Austrade, Australia's mining expertise will be on display at IMME, with 28 booths and more than

50 exhibiting companies. Other sponsors of IMME include the Department of Resources, Energy and Tourism and the

state governments of NSW, Queensland, South Australia and Western Australia.

Ms Elliot said Australia is committed to strengthening its ties with India on all levels.

Australia has moved to double its diplomatic presence in India and now has a network of Austrade offices in 11 cities in

India, including Kolkata.

"A strong diplomatic, trade and investment promotion presence allows us to pursue opportunities right across the broad

sweep of our bilateral agenda.

"Every Australian company represented at the Exhibition knows the value of a robust, durable and substantial presence

in India and so too does the Gillard Government," Ms Elliot said.

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Media inquiries

Parliamentary Secretary's office: (02) 6277 4554 ■

Department of Foreign Affairs and Trade Media Liaison: (02) 6261 1555 ■

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