India, Australia strengthen clean energy, trade partnership

26 Nov 2024 CW Team

Key areas of focus included defence, security, mobility, science, technology, and education. The two leaders envisioned a long-term defence and security collaboration to bolster collective strength, ensure mutual security, and contribute to regional stability, according to a joint statement.

The Renewable Energy Partnership (REP) will prioritise solar energy, green hydrogen, energy storage, and related investments. Modi highlighted new cooperation possibilities in sectors such as critical minerals, renewable energy, shipbuilding, space, and sports.

Both leaders reaffirmed their commitment to achieving an ambitious and balanced CECA to unlock the full potential of their economic relationship. The agreement aims to build on the momentum created by the 2022 Economic Cooperation and Trade Agreement (ECTA), which has already driven a 40% increase in mutual trade.

The leaders also expressed their shared commitment to reforms in global institutions and emphasised the need for dialogue and diplomacy to resolve global conflicts. Modi reiterated support for peace and stability in the Indo-Pacific and invited Albanese to the Quad summit in India next year.

Modi and Albanese acknowledged the complementarity of India's 'Make in India' initiative and Australia's 'Future Made in Australia' strategy. They called for enhanced two-way investments to create jobs and foster economic growth.

The joint statement emphasised adherence to international law, including the UN Convention on the Law of the Sea (UNCLOS), amid concerns over China's assertiveness in the South China Sea. Both leaders pledged to strengthen cooperation through the Quad, ensuring it remains a "force for global good" in the Indo-Pacific region.

This partnership signals a stronger India-Australia relationship poised to expand cooperation in energy, trade, and regional stability.

(Business Standard)

India and Australia have solidified a renewable energy partnership while advancing efforts toward a Comprehensive Economic Cooperation Agreement (CECA). Prime Ministers Narendra Modi and Anthony Albanese underscored their commitment to deepening bilateral ties during the second India-Australia annual conclave, held alongside the G20 summit. Key areas of focus included defence, security, mobility, science, technology, and education. The two leaders envisioned a long-term defence and security collaboration to bolster collective strength, ensure mutual security, and contribute to regional stability, according to a joint statement. The Renewable Energy Partnership (REP) will prioritise solar energy, green hydrogen, energy storage, and related investments. Modi highlighted new cooperation possibilities in sectors such as critical minerals, renewable energy, shipbuilding, space, and sports. Both leaders reaffirmed their commitment to achieving an ambitious and balanced CECA to unlock the full potential of their economic relationship. The agreement aims to build on the momentum created by the 2022 Economic Cooperation and Trade Agreement (ECTA), which has already driven a 40% increase in mutual trade. The leaders also expressed their shared commitment to reforms in global institutions and emphasised the need for dialogue and diplomacy to resolve global conflicts. Modi reiterated support for peace and stability in the Indo-Pacific and invited Albanese to the Quad summit in India next year. Modi and Albanese acknowledged the complementarity of India's 'Make in India' initiative and Australia's 'Future Made in Australia' strategy. They called for enhanced two-way investments to create jobs and foster economic growth. The joint statement emphasised adherence to international law, including the UN Convention on the Law of the Sea (UNCLOS), amid concerns over China's assertiveness in the South China Sea. Both leaders pledged to strengthen cooperation through the Quad, ensuring it remains a force for global good in the Indo-Pacific region. This partnership signals a stronger India-Australia relationship poised to expand cooperation in energy, trade, and regional stability. (Business Standard)

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