Active Stocks
Mon Sep 25 2023 15:40:13
  1. Tata Steel share price
  2. 127.35 0.51%
  1. Tata Motors share price
  2. 619.3 -0.29%
  1. NTPC share price
  2. 239.4 0.61%
  1. Wipro share price
  2. 414.05 -1.1%
  1. Infosys share price
  2. 1,475 -1.4%
Business News/ News / World/  PM Narendra Modi sets course for Australia to strengthen regional ties

Prime Minister Narendra Modi departed from Port Moresby in Papua New Guinea and boarded a plane bound for Sydney.

PM Modi's visit to Australia will span three days and comes after India and Australia signed a significant trade agreement last year.

The prime minister decided to proceed with his visit to Sydney, after US President Joe Biden pulled out from the scheduled Quad Summit that was cancelled and later held on the sidelines of the just concluded G7 summit in Hiroshima.

During his Australia visit PM Modi will hold a bilateral meeting with his Australian counterpart Anthony Albanese.

According to an official statement released by the Australian government, during their bilateral meeting, the leaders will engage in discussions regarding trade and investment. They will explore ways to enhance trade between the two nations through a Comprehensive Economic Cooperation Agreement. Additionally, they will focus on strengthening people-to-people connections, renewable energy initiatives, and cooperation in defense and security matters.

"PM Modi will also meet Australian business leaders to drive Australia's growing trade and investment relationship with India and take forward opportunities from the Australia-India CEO Forum held in Mumbai in March," according to the statement.

The statement further noted that “During the visit, the Prime Ministers will attend a community event in Sydney to celebrate Australia's dynamic and diverse Indian diaspora, a core part of our multicultural community."

Australian Prime Minister Albanese expressed his anticipation of travelling to New Delhi in September to attend the G20 Leaders' Summit, which is recognized as the leading platform for global economic collaboration.

During his visit to Papua New Guinea, Prime Minister Modi emphasized the significance of capacity building within the partnership between India and the Pacific Island countries. He engaged with alumni of the Indian Technical and Economic Cooperation (ITEC) program, hailing from various Pacific Island Countries (PIC).

"These ITEC alumni, including government officials, professionals and community leaders, are contributing to their societies using the skills gained in India. PM lauded them for keeping India in their hearts and reiterated his support for capacity-building efforts in the region," according to Ministry of External Affairs Spokesperson Arindam Bagchi.

Earlier today, PM Modi also interacted with New Zealand Prime Minister Chris Hipkins. It is pertinent to mention that this is the first meeting since Hipkins became the country's Prime Minister.

"Had an excellent meeting with the New Zealand PM Chris Hipkins and discussed the full range of India-New Zealand relations. We talked about how to improve commercial and cultural linkages between our nations," tweeted PM Narendra Modi.

PM Modi also interacted with the leaders of Pacific Island nations on the sidelines of the third India-Pacific Islands Cooperation (FIPIC) Summit in Papua New Guinea's capital Port Moresby.

The Third Forum for India-Pacific Islands Cooperation (FIPIC) Summit took place in Port Moresby, jointly hosted by Papua New Guinea. Prime Minister Narendra Modi co-chaired the summit alongside Prime Minister James Marape of Papua New Guinea.

During the summit, PM Modi organized a banquet lunch featuring Indian cuisine and millets for the leaders from the Pacific Island countries.

Australia marks the last destination of PM Modi's three-nation tour, which commenced with his attendance at the G7 and Quad Summits in Hiroshima, Japan.

(With inputs from agencies)

"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

Mausam Jha
A journalist covering International Relations, and Business.
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Updated: 22 May 2023, 02:01 PM IST
Next Story
Recommended For You
Switch to the Mint app for fast and personalized news - Get App