PM's statement to the media at the press conference with the Prime Minister Gillard of Australia

It is a great honour to welcome Prime Minister Julia Gillard on her first State Visit to India.

Relations between India and Australia are characterized by Expanding Trade and Investment ties, Defence Co-operation, Education and Cultural linkages and People-to-People Interaction. Our strategic partnership is responding to the significant transformations in our region and to the developmental aspirations of our two peoples.

Prime Minister Gillard and I have had substantive discussions on measures to give greater content to our relations. I am extremely satisfied with our discussions. I have no doubt that our understandings, as reflected also in the agreements that have just been signed, herald a phase of more intense and structured cooperation between our two countries.

In our talks earlier, we have agreed to hold annual meetings at the summit level, either bilaterally or during multilateral events. We have also agreed to launch a Ministerial-level Dialogue on Energy Security, establish a Water Technology Partnership and start negotiations for an Agreement on Transfer of Sentenced Persons.

As you are aware, under Prime Minister Gillard, the Australian Labour Party has articulated a new policy on uranium sales to India. This is recognition of India’s energy needs as well as of our record and credentials and I have expressed to Prime Minister Gillard our India’s appreciation of this development. We have agreed to begin negotiations for an Agreement on Civil Nuclear Energy Cooperation, which will precede actual cooperation.

There is great potential to further strengthen India-Australia Bilateral Trade and RInvestment relations, which continue to show robust growth; our bilateral trade in goods was US$ 17.4 billion in 2011-12, while India’s investments in Australia are at almost US$ 11 billion. Our negotiators are working towards a Comprehensive Economic Partnership Agreement, which will further facilitate trade and investment and make them more balanced and sustainable.

We are also developing wide-ranging cooperation in Defence and Security Issues, including the Fight Against Terrorism, in all of which we regard Australia as an important partner.

Prime Minister Gillard yesterday inaugurated the Oz Fest in India. Culture is an excellent medium to bring our two countries closer together. We are establishing ICCR Chairs of Indian Studies at five Australian Universities. I have also conveyed to Prime Minister Gillard our appreciation of the steps being taken by the Australian government to address the issues affecting Indians and Indian students in Australia, which have had a salutary effect.

This visit by Prime Minister Gillard is bound to open a new chapter in India-Australia relations. We look forward to the further strengthening of these relations.

Thank you.