India-Australia CEOs forum discusses ways to enhance trade

NEW DELHI: The CEOs Forum of India and Australia today discussed ways to increase trade and investment, and agreed on taking steps for skill development.

The CEOs also agreed on creating two 'investment champions' from Austrade and FICCI to help major investors in each country to identify opportunities and navigate government processes.

These issues were discussed during the meeting of India-Australia CEOs Forum. From Australia and India Lindsay Fox, Founder of the Linfox Group, and Naveen Jindal, Chairman Jindal Steel & Power co-chaired the meeting.

"The CEOs recommended that the two countries will take up new initiatives to promote skills training. The Co-Chairs took personal responsibility for further work on the transport sector," FICCI said in a statement here..

They also agreed to look at ways to enhance mutual cooperation in infrastructure development and to promote services trade.

The Forum, which met for the second time, presented its findings to Australian Prime Minister Julia Gillard and Commerce and Industry Minister Anand Sharma on ways to enhance bilateral trade and investment links.

Gillard is here for a three-day visit. "At the first meeting, we built up our relationships with each other. This time we wanted to focus on outcomes," Fox said.

"We will request our governments to consider the recommendations we have made. Our work will help to shape future policy directions," Jindal said.

The bilateral trade between the countries stood at $ 20 billion in 2011. Energy and resources as well as education services are important items in the trade basket.

The CEO Forum was launched in May 2011 and met for the first time in March.

Business leaders participated in the meeting include Sam Walsh of Rio Tinto Iron Ore, Michael Smith of ANZ Banking Group, and Michael Wilkins of Insurance Australia Group.

From India, Ravi Vishwanathan of Tata Consultancy Services, Ganesa Natarajan of Ennore Coke, Sanjay Pattnaik of Tata Steel participated in the meeting.