The relationship between India and Australia is mature enough to respect sensitivities, such as those in the dairy and certain agricultural sectors, in the bilateral Economic Cooperation and Trade Agreement (ECTA), said Peter Dutton, Australian Opposition Leader and former Defence Minister.

But it is important to continue to build on the strengths and opportunities in areas such as critical mineral, education and other farm items while negotiating the full-fledged Australia-India Comprehensive Economic Cooperation Agreement (CECA).

“The relationship between the two countries is significant. We are still on the ground floor and so much more opportunity exists. If we make use of the opportunity, the jobs will follow. The economic multiplier will become a reality,” Dutton said in a select media briefing on Wednesday.

The former Australian Defence Minister, who is now the leader of the Opposition, is in India leading a delegation of top Australian industrialists to participate in a four-day Economic Trade Delegation Summit beginning on Wednesday.

The India-Australia ECTA was signed on April 2, 2022 and entered into force on December 29, 2022. While it was an ambitious agreement and covered most of the goods traded between the two countries, it excluded sensitive areas such as dairy and most agriculture items. It also did not include major concessions in the services sector like health and education.

Negotiations have now resumed for an ambitious CECA, which will build upon ECTA.

Dutton said that despite the sensitivities there was significant opportunity in the agriculture space still, which the two sides must work on.

Critical minerals, and more generally mining, is another area where there is a lot of opportunity, he said.  “Australia is in a great position to provide support for energy security to India and also other countries such as South Korea and Japan,” he said.

There is emerging scope for cooperation and growth, as trust continues to build, in the space of defence material, Dutton added. Australian companies could work with defense industry partners in India to produce both for the export market and for domestic consumption, he said.

While in the education sector both sides have been collaborating and have reaped mutual advantage, there was immense space for growth, Dutton added.

Related Topics