Saturday, March 24, 2012

India- South Australia bilateral trade US$40 by 2016

The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) in association with Australian Delegates Interactive Meeting with FAPCCI Team on “Emerging Trends in Bilateral Trade” on 20th March 2013 at Federation House, Red Hills, Hyderabad.

Mr. V.S. Raju, President, FAPCCI, Ms. Cheng Teoh, Manager-International Trade, Business South Australia, Ms. Shelley Elder, CEO, Axeze Pty Ltd, Mr. Samuel Kaladari, Mg. Director, Kaladari Industries, Dr Nhiem Lu, Executive Director, Solution Forest Pty Ltd, Ms. Cathy Adele Beitz, Company Dir., Our Bizniss Productions Pty Ltd, Mr. K.Graeme George, Company Dir., One Tap Publishing Pty Ltd, Mr. Patrick Crowe, Managing Director, Transtainer, Mr. Ramakrishna Dastrala, Business Development Manager, Australian Trade Commission, Ms. Sangeetha Krishnamoorthy, Business Development Manager, Australian Trade Commission, Mr. Devendra Surana, Senior Vice President, Mr. Srinivas Ayyadevara, Vice President, Mr.Shyam Sunder Pasari, Chairman, International Trade Committee and Mr. M.V. Rajeshwara Rao, Secretary General are the other speakers at the occasion.

Ms. Cheng Teoh said that the South Australia is one of the exciting investment destination for international developers in the Asia Pacific. She invites the investments to invest in mining, defense, clean technology, manufacturing, agriculture, wine and health services and education sectors in South Australia.

Mr. V.S. Raju said that the India and Australia have a strong and productive bilateral partnership. Australia’s relationship with India has increased in line with India’s rapid economic and strategic growth. India is now Australia's third largest merchandise export market, and Australia was India's eighth largest trading partner. India and Australia have embarked upon talks to conclude an ambitious Comprehensive Economic Cooperation Agreement and the latest engagement resulted in an initiative being launched to develop two-way trade between the two nations and its success is expected to add over $40 billion to each economy by 2016. I am sure, with the frequent visits of Australian Officials and greater awareness about the Australian market, the target set would be definitely achieved. So far, Indian companies have invested around $3 billion in Australia, dominated by coal. Recently, the GVK Group announced a deal to acquire Hancock Coal for $1.26 billion. It plans to invest an additional $6 billion to develop assets. Early this year, Lanco Infratech acquired assets of Griffin Coal in a $760-million deal. Australia has so far attracted a global investment of $83 billion in the resources sector alone, while the pipeline is at an estimated $430 billion.

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