Celebrating the Australia-India Economic Cooperation and Trade Agreement

Speaker: Jennifer Westacott, Business Council chief govt
Event: Celebrating the Australia-India Economic Cooperation and Trade Agreement
Delivery: Thursday, 7 April 2021

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Thank you everybody.
As we come collectively at this time to rejoice this historic commerce settlement, let’s remind ourselves what all of this implies.
What is commerce? What does it imply to commerce between two international locations?
Yes, it’s an trade of products and providers, however it’s so rather more.
That trade of products and providers turns right into a job for any person.
Then a job for any person else to assist that job.
This cascades into financial exercise which helps a society.
With this, comes an trade of concepts and innovation.
This brings advances in know-how and residing requirements that are mutually useful.
Free commerce and a rules-based order builds friendship, understanding and it builds the foundations of belief.
Let there be little question – free commerce between open and democratic nations is a robust power for peace and safety.
So, at this time we’re so happy to be right here with representatives of one of many world’s nice nations and nice civilisations – the nation that invented chess.
And on our aspect, representatives from the nation that invented wi-fi and continues to provide the world a masterclass in cricket.
We are right here at this time to usher on this new period of nearer commerce and cooperation between our two international locations.
We are right here to rejoice the deepening of our friendship, the lengthy historical past of our cultural ties and our shared values round democracy.
Our commerce cope with India will open up new alternatives with a market of 1.4 billion folks and a 3 trillion greenback economic system, permitting us to develop our commerce price 24 billion {dollars} in 2020.
Before I introduce Minister Tehan, you will need to acknowledge that this settlement with India is just one a part of a large physique of labor on commerce.
This has been achieved by means of the onerous work of the Minister and his predecessors, together with former Trade Minister Andrew Robb who’s right here at this time.
I need to congratulate the federal government and all of the commerce officers – a lot of whom are additionally right here at this time – on their achievements
Because Australia’s 16 free commerce agreements in addition to being a part of quite a few regional partnerships provides us preferential entry to 4.3 billion customers.
That’s jobs – that’s nation constructing prosperity.
There are many people who find themselves sceptical concerning the forces of globalisation however these forces are unstoppable.
The problem is the way you make this work in your residents.
And in international locations like Australia with a mature economic system and international locations like India which might be quickly advancing, the mutual advantages are simply overwhelming.
Leadership is a collective dynamic.
And that collective management will underpin the livelihoods of this technology and future generations of Australians.
And with that, can I please welcome Minister Dan Tehan.