Australia PM Turnbull puts free trade deal with India on backburner
As per IANS report, one MoU was signed on cooperation in fighting international terrorism and organised crime.
Malcolm Turnbull, Prime Minister of Australia, on Monday said that talks with India on trade pact not as fast as desired. Thus, it has put the free trade agreement on the backburner, a media report said.
On Sunday, Turnbull arrived in India for four-day visit. He is here to hold talks with his Indian counterpart Narendra Modi to boost ties in key areas including defence, security, energy and trade.
According to an Australian media report, Turnbull said that it has put the trade deal on the backburner in favour of a larger deals that involves China as well. He mentioned that the aggreement with India will be a long process.
While addressing media in Delhi, Turnbull was quoted in the report stating, "It will take time but the important thing is to persevere. Prime Minister Modi and I are committed to continuing work on that but I think we've got to be realistic about timing."
Today, both the countries signed six memorandums of understandings (MOUs) which included cooperation in fighting international terrorism and on civil aviation security, followed by delegation-level bilateral talks headed by Modi.
As per IANS report, one MoU was signed on cooperation in fighting international terrorism and organised crime. Second MoU was signed on promotion and development of cooperation in civil aviation security. Third MoU was signed on cooperation in the field of environment, climate and wildlife.
Another MoU was signed on cooperation in the field of sports. The Indian Space Research Organisation (ISRO) signed an MoU with Geoscience Australia on implementation arrangement on cooperation in earth observation and satellite navigation. Sixth MoU was signed on cooperation in the field of health and medicine, the report said.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
IRCTC Dividend 2024: Railway PSU announces 200% interim dividend - Check record date and other details
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
PSU Oil Stocks: Here's what brokerage suggests on these 2 largecap, 1 midcap scrips - Buy, Sell or Hold?
04:39 PM IST