Terming India and Australia as two brothers, Union Minister Piyush Goyal on Saturday said that both countries are natural partners, connected by shared values of democracy, rule of law and transparency.
Speaking at India-Australia Economic Cooperation & Trade Agreement virtual signing ceremony today, the Union Minister said that both India and Australia supported each other during the COVID-19 pandemic.
"India-Australia are natural partners, connected by shared values of democracy, rule of law and transparency. Like two brothers, the two nations supported each other during the pandemic," he said.
Piyush Goyal also said the relationship between the countries rests on the pillars of trust and reliability.
"Our relationship rests on the pillars of trust and reliability. Aptly reflected in our deepening geostrategic engagement through the Quad and the supply chain resilience initiatives" he said.
Union Minister noted that India and Australia signed the Economic Cooperation and Trade Agreement (ECTA).
Recalling Indian Prime Minister Narendra Modi's words when he visited Australia in 2014, Goyal said: "I see a great future of the partnership between India and Australia and a shared commitment to realising it."
India signed a massive historic trade deal with Australia, aiming to boost economic ties between the two countries.
Prime Minister Narendra Modi said that the India-Australia Economic Cooperation and Trade Agreement is a "watershed moment" for bilateral ties. The interim free trade deal aims to eliminate 85 per cent tariffs on Australian goods exported to India.
"Consensus on such an important agreement in such a short period of time shows the mutual trust between the two countries. This is truly a watershed moment for our bilateral relations," PM Modi said at a virtual signing ceremony of the agreement.
He added that the newly signed trade deal will contribute to the increasing supply chains resilience and stability of the Indo-Pacific region.
( With inputs from ANI )
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