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Dear
Reader,
Greetings. The
growing economies
of India and Australia
are complementary
to each other.
Their resources
and requirements
are perfectly
dovetailed. Precisely
for this reason,
the bilateral
trade between
the two countries
has been growing
by leaps and bounds.
For instance,
India is the fastest
growing major
export market
for Australia's
goods and services
and at the same
time it is also
the largest source
of skilled migrant
workers to Australia.
In the field of
energy, India's
requirements are
large and varied
which Australia
can meet most
effectively. In
order to facilitate
the fast rising
trade volumes
between India
and Australia,
their respective
governments have
initiated joint
action to work
out a Free Trade
Agreement (FTA)
between the two
countries. In
all likelihood
the proposed FTA
will be ready
and signed in
2009. This became
evident at the
end of the annual
deliberations
of the Joint Ministerial
Commission (JMC)
of India and Australia.
Indian Commerce
and Industry Minister
Kamal Nath, who
had held discussions
with Australian
Trade Minister
Simon Crean in
this regard in
May indicated
that a feasibility
report on the
proposed FTA will
be presented to
both governments
by the end of
this year. The
cover story of
the current issue
of Indo-Australian
Business takes
a look at the
discussions centering
on the FTA. The
phenomenal emergence
of China and India
as economic super
powers in the
Asian region with
an insatiable
appetite for resources,
has thrown open
the floodgates
of opportunities
for every country.
Australia's Prime
Minister Kevin
Rudd wants prepare
his country for
taking advantage
of the region's
demand for resources
in the 21st century.
The issue carries
the full text
of Prime Minister
Rudd's recent
address at the
Asia Society AustralAsia
Centre. It also
carries an article
by noted Australian
economist Tim
Harcourt who argues
that Chindia (India
plus China) will
boost demand for
Australian resources.
The focus section
of the magazine
is devoted to
education. South
Australia's Premier
Mike Rann, who
was in India recently,
said his state
had emerged as
a key destination
for Indian students.
Premier Rann also
received during
his visit to Mumbai,
the Indo-Australian
Business Excellence
Award, instituted
and presented
by New Media,
publishers of
the magazine.
The focus also
includes an in-depth
write-up on six-e-learning
steps to an innovative
business approach.
In yet another
concrete step
towards strengthen
bilateral relations,
Foreign Ministers
of India and Australia,
namely Pranab
Mukherjee and
Stephen Smith
signed a protocol
in Canberra agreeing
to work closely
on food and energy
security of both
countries. We
carry a report.
The issue contains
plenty of news,
besides the regular
features.
Wish you happy
reading,
Satya
Swaroop
Managing Editor
satya@newmediacomm.biz |
