Explaining and promoting AI ECTA (Australia India Economic Cooperation and Trade Agreement), an Australia India Business Summit 2022 took place on 22 July 2022 at the office of Consulate of India 344 St Kilda Road, Melbourne.
The event was organized by JITO Australia and Consulate of India Melbourne to discuss the details of AI-ECTA (Australia-India Economic Cooperation and Trade Agreement) in order to help Business Entrepreneurs, Investors and those involved in two-way Australia-India trade, be they importers or exporters.
The event was presented as a roadshow of the AI-ECTA between India and Australia, aimed at bringing real business opportunities, funding options for aspiring & existing entrepreneurs.
It was also an opportunity for business collaboration, growth, networking, particularly so as the business leaders from India also Zoomed in, making it a successful hybrid business event with a candid exchange of views and information.
The event began with the formal “Lighting of Lamps” by the dignitaries and a recitation of Navkar Mantra. All guests were asked to remove their shoes for the Navkar Mantra.
Delivering the welcome addresses on behalf of the Indian government, Sh. Girish Singh Kavia, Counsul General (Commerce) CGI Melbourne greeted Ted Baillieu AO, former Premier of Victoria, Ms Frances Lisson, Chief Negotiator – Australia-India Comprehensive Economic Cooperation Agreement and Shri D. D. Saxena, Chair, Confederation of Indian Industries – IBF Australia among others.
Delivering a very cogent message on AI-ECTA, Mr Kavia said, “India and Australia enjoy excellent bilateral relations that have undergone transformative evolution in recent years, developing along a positive track, into a friendly partnership. This is a special partnership characterized by shared values of a pluralistic parliamentary democracies, Commonwealth traditions, expanding economic engagement, long standing people-to-people ties and increasing high level interaction.”
Shortlisting the sectors for those attending the business summit, Mr Kavia highlighted the potential gains in the mining, pharmaceuticals, health, education, railways, gems and jewellery, tourism, defence and textiles.
Providing an insight into the negotiations between the two countries going beyond trade, Mr Kavia told the audience that India is also likely to seek easier visa access for both students and professionals visiting Australia.
Also read: Australia India sign historic trade agreement – AI ECTA
“Both countries are also looking at mutual recognition of educational qualifications to boost the number of Indian students seeking education in Australia and vice versa and boost tourism in both countries”, Mr Kavia added.
“I sincerely look forward to the ever-growing relationship of India and Australia to evolve stronger and stronger. The Consulate shall continue to facilitate trade between the two countries”, Mr Kavia assured the existing and potential business entrepreneurs ready to take a plunge into the world of bilateral trade between Australia and India.
Ms. Frances Lisson, Chief Negotiator – Australia-India Comprehensive Economic Cooperation Agreement provided some interesting insights into the making of AI-ECTA, discussing some bottlenecks along the way and some other road blocks yet to be cleared on both sides for the arrangements to come to fruition eventually as FREE TRADE Agreement.
There was a panel discussion with Hon Ted Baillieu- Former Premier of Victoria and D. D. Saxena among the panellists to share their invaluable wisdom for the future business leaders.
The idea of this business summit was to provide an understanding of AI-ECTA between India & Australia to increase business opportunities between India and Australia.
AI ECTA was signed on 02nd April, 2022 by the then Australian minister for Trade Dan Tehan in Australia and Indian Minister for Commerce and Industry Piyush Goyal in India during a virtual ceremony.
JITO Business Network and JITO International also collaborated with JITO Australia to make the event possible.
Invest India, JUDO Bank, AIBX (Australia India Business Exchange), LINK and CII (Confederation of Indian Industry) supported the business summit.