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‘India, Aus can do more to strengthen economic order in Indo-Pacific’

‘India, Aus can do more to strengthen economic order in Indo-Pacific’
June 13
10:30 2019

NEW DELHI: India and Australia can do more together to strengthen the economic order in the Indo-Pacific and successfully concluding Regional Comprehensive Economic Partnership (RCEP) will help shape the regional rules and norms governing trade, investment and the broader economy, said Australian High Commissioner Harinder Sidhu.
The Australian envoy, while delivering a talk organised by the Indian Association of Foreign Affairs Correspondents Tuesday, said Australia and India can do more over the next terms of their respective governments to strengthen the bilateral partnership.

“We have built a strong bilateral relationship over the past decade. We have the basis now to work together in other forums,” she said.
Sidhu stressed that it was important to strengthen the economic order in the Indo-Pacific.
“There is more India and Australia can do together to strengthen the economic order in the Indo-Pacific. This has two dimensions. The first is trade and second is investment in the region, and with the later particularly on high quality infrastructure development,” the Australian envoy said.

“When it comes to trade, India is a leader and an Asian and Indo-Pacific powerhouse. For that reason it is vital India plays a greater role in shaping the regional trading order,” she said.
Successfully concluding RCEP – which includes India, China and the ASEAN countries as well as Australia – will help shape the regional rules and norms governing trade, investment and the broader economy, she said.

Noting that the RCEP countries represent almost half the world’s population and over 30 per cent of global GDP, Sidhu said concluding a high-quality RCEP will expand regional trade and investment.
“It will strengthen regional supply chains. And it will create a platform to drive ongoing economic reform. Very importantly, it deals India into regional economic integration. Australia is keen to work with India on RCEP,” she said. PTI

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