NEW DELHI (Commodity Online): India has welcomed the Australian decision of reversing its ban on selling uranium to India. Anand Sharma, India Minister for Commerce, Industry and Textiles in a meeting with Barry O’Farrell the Premier of New South Wales, Australia,said this decision will be welcomed all around and is in line with the strategic nature of the relationship between the two countries.
Sharma further mentioned that India is going through a decade of innovation and for this purpose, India has institutional linkages with Germany, Switzerland and U.K. in the sectors of agriculture, pharmaceuticals and precision engineering. India and Australia have huge potential in collaborating in this area. Sharma recalled his meeting with Senator Kim Carr, Australia’s Minister for Technology where both sides expressed willingness to collaborate in the fields of bio technology, Automobile sector ICT and mines.
Bilateral Trade between India and Australia in 2010 has been US $ 13.708 billion. Total trade between January to August 2011 has been US $ 9.351 billion. India is engaged with Australia in negotiations Comprehensive Economic Cooperation Agreement. Shri Sharma emphasized that both sides must aim for concluding the agreement latest by middle of 2012.
