Australia and India Seek to Diversify Export Markets and Boost Clean Energy Cooperation
The unswerving allegiance that two of the most developed economies - Australia and India - share has gained even greater prominence, particularly as global volatility grows at an alacrity rate. With a focus on consolidating their respective export markets, tautening the seams of their supply chains, and augmenting their military prowess in light of escalating disharmony with China; it now comes down to forging stronger economic and security ties between these nations. While Anthony Albanese, the Australian Prime Minister revealed his recent visit to India with undeniable fortitude; his announcement about Delhi joining hands with US-Australia for a significant military exercise this year left many inquisitive enthusiasts enthralled. That's not all; both stalwarts will collaborate on better breakthroughs towards clean energy wonders such as incorporating solar panels in everyday use items.
The Quadrilateral Security Dialogue (known as the Quad) unites four democratic nations, including Australia, India, Japan and the United States. This comprehensive alliance aims to counteract China's expansive behavior. Furthermore, Australia and India commenced an interim free-trade agreement last year that eliminates or reduces levies on a wide range of products traded between these two countries. The primary goal is to diversify trade relationships beyond China's overrelied markets considerable while reducing vulnerability in such challenging times of pandemic outbreaks like COVID-19. In recent times, Australian beef, barley, coal and wine exports have faced restrictions due to its biggest trading partner - China discontinuing orders for it during this epidemic outbreak scenario at the same time there has been ongoing hostilities along the borderline between China and troops from neighboring country - India which led to fatal confrontations resulting in increased tensions.
The convergence of ideas, between Indian Prime Minister Narendra Modi and his Australian counterpart at their meeting, paved way for a vital facet in their alliance - security cooperation. Part of the diplomatic dialogue focused on navigation protection in relation to the Indo-Pacific, alongside strategies meant to foster effective sharing between respective security agencies. Notably, India's inclusion in the Talisman Sabre drill marks an important milestone; as it includes not only amphibious operations but also leadership from respective national armies - as contrasted with past partnerships mostly centered within naval movements shared by Australia and India.
Australia exports coal and education services to India, but its aim is to increase trade by sending crucial minerals for manufacturing. Diverse challenges exist that require resolution between the two countries such as finalizing a full free-trade agreement, ironing out labor mobility related matters and tackling agricultural issues. Australian companies have not shown enough initiative in investing directly in India, with investment interest being greater towards Luxembourg than India this year. Nevertheless, both governments indicated they are close to sealing a comprehensive agreement deal; progress has also been made on devising a new migration plan.
Perceptions suggest that there is a clear desire within both Australia and India to bolster their political connections. Furthermore, analysts highlight how a renewed sense of urgency has been injected into this relationship as a direct result of the contentious China factor. It is interesting to note that while India has traditionally retained an air of non-alignment when it comes to political affiliations, with mounting tensions between China and other nations, the country has started to disclose details about its defense alliances with foreign powers.
5/2/2023 08:08:24 am
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