Chennai

Australia today said it was working hard to finalise its “high quality, mutually beneficial” Comprehensive Economic Cooperation with India by the end of this year, saying it will be a great driver of commercial and other activities.

“We are working hard to conclude this high quality mutually beneficial Australia-India comprehensive Economic Cooperation Agreement by the end of this year,” Australian Minister for Trade and Investment, Andrew Robb, said.

He said while negotiations had started five years ago, it had not proceeded faster, but it was decided by the two countries last year after Narendra Modi assumed office as Prime Minister, to “reignite and finish” the deal.

“We are working to that time table. It will be a great driver of commercial and other activities between the two countries,” Robb told a press conference here.

With his country being a services-dominated economy, the agreement’s focus will be on services- not just Financial and Legal but others including Health, Educational, Transport and Port Management. However there would be a Goods package, he said.

On issue of approving the coal mine and rail project of Indian business conglomerate Adani Group in Australia, which had been opposed by environmental groups there, he said such approvals are given after necessary regulations are passed.

“It had passed all approvals. There is a pretty active green group (in Australia) and they are entitled to their point of view but as a government we disagree with some of the techniques that they are trying to get across their point of view,” he said.

Underlining his government’s commitment for environmental protection, he said Australia was internationally ranked third in this area. “It is quite difficult to get through these and Adani project passed” all environmental regulations, he said.

While a federal court had overturned earlier approval granted to the Group on environmental grounds, the government had reapproved the multi-billion dollar project recently as per environmental laws and subject to certain conditions.

To a question on supplying uranium to India, he said the Nuclear Cooperation Agreement with New Delhi “is on track and to be concluded this year.”

Australia will be ‘delighted’ to assist India in its endeavour to ensure 25 per cent of energy in 2050 is generated from nuclear power stations and that the supply will be based on demand, he said.

Robb, whose country was a partner in last month’s Global Investors Meet held by the state government, evinced interest in areas of dairy development among others with Tamil Nadu.

PTI