Nandinagar (Telangana) [India], May 14 (ANI): KT Rama Rao, Working President of the Bharat Rashtra Samithi (BRS), on Thursday met Australian High Commissioner to India Philip Green along with Australian Consul-General for Karnataka and Telangana Hilary McGeachy in Nandinagar, Hyderabad, where the leaders held discussions on strengthening bilateral cooperation in investment, technology and education sectors, according to the release.
The discussions mainly focused on opportunities for Australian investments in the Telugu states, mutual cooperation in the technology sector, and new partnerships in the field of education. Drawing from his experience as the former Minister for Industries and IT, KTR discussed several important aspects related to these sectors.
The meeting also highlighted the rapid development taking place in Hyderabad in areas such as IT, green energy, pharmaceuticals, and innovation. It was expressed that stronger cooperation between Telangana and Australia would create greater international opportunities for local youth in the future, the release stated.
The discussions were aimed at taking the strong friendship between India and Australia to greater heights. Expressing happiness over the meeting with the Australian representatives, it was noted that this partnership would further strengthen the economic ties and cultural relations between the two countries.
Meanwhile, recalling the broader economic context, it was noted that India and Australia first launched negotiations for a Comprehensive Economic Cooperation Agreement (CECA) in 2011. The negotiations were later paused in 2016 pending the outcomes of broader regional agreements.
In September 2021, Australia and India formally re-launched CECA negotiations with the intention of quickly concluding an Economic Cooperation and Trade Agreement (ECTA) to swiftly liberalise and deepen bilateral trade in goods and services, and to then use this foundation to resume negotiations on the more ambitious CECA.
The ECTA was signed on 2 April 2022 and came into force on 29 December 2022, further strengthening bilateral trade ties.
Negotiations for a Comprehensive Economic Cooperation Agreement (CECA) are currently ongoing, aimed at building upon the outcomes of ECTA to enhance long-term economic cooperation between India and Australia.
Submissions from stakeholders continue to be invited as part of the consultation process for the CECA negotiations, the release added. (ANI)