Australian Trade Minister to lead 'Business Week' in India

Aug 26, 2017 08:25 IST

Australia's Minister for Trade, Tourism and Investment Steven Ciobo will lead a major mission named to India - the second Australia Business Week in India (ABWI) – to India. The mission scheduled to be held from 28 August to 1 September 2017 will aim at deepening the collaboration between the two nations in different fields.

Fields that will be covered during the visit include agri-business and food, higher education and research and smart cities and infrastructure, Australia's Minister for Trade, Tourism and Investment.

According to a statement, 2nd ABWI arranged by the Australian Trade and Investment Commission will attract many business leaders. The statement says that over 50 business events and activities with Indian business and government, will take place across the six cities of New Delhi, Mumbai, Kolkata, Bhopal, Bengaluru and Hyderabad.

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Leonie Muldoon, Senior Trade and Investment Commissioner - South Asia, said at the Australian Trade and Investment Commission that the ABWI is a significant platform which can be leveraged by Australian businesses to take a closer look at what India has to offer and to engage with potential partners and customers in specific areas of mutual business opportunity.

He also said that the ABWI 2017 will help Australia to further enhance trade, investment and education relationship with India. Australia’s ongoing efforts to enhance trade relations with India will be helped by the size and breadth of the delegation across multiple industry sectors.

A statement said, “ABWI 2017 builds on the success of the inaugural event in 2015, which created lasting relationships and generated business worth millions of dollars.” It also said, “India is Australia's ninth largest partner with two-way trade and services of Australian dollars 20.7 billion and its fifth largest export market, with total exports of Australian dollars 11.1 billion.”

The statement also added, "Total Indian investment in Australia is near Australian dollars 13.5 billion (up from Australian dollars 600 million in 2006), while total investment in India is over Australian dollars 10.3 billion.”

(Source: IANS)

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