Australia launches businesses portal

NEW DELHI: Australia, which is holding preliminary negotiations with New Delhi on free trade agreement, will now display its industry expertise and service skills to the Indian business community online.

The South Pacific country on Wednesday launched a portal - utsavaustralia.in - for this purpose, Australia senior trade commissioner, South Asia, Michael Moignard told reporters here on Wednesday.

India is fourth-largest and fastest growing merchandise export market for Australia, he said, adding Australian merchandise exports to India rose to $11 billion in 2006-07, increasing by an unprecedented 37 per cent from the previous year.

He said Indian companies have invested $2-3 billion in Australia, while the latter has interests in India ranging from steel to oil and gas.

Moignard said Australia will like to boost its interest in ICT, biotech, food and beverages and also infrastructure with Commonwealth Games slated for 2010.

He said the portal would bridge information gap that exists in India about Australian businesses.

The portal will highlight Australia's industry capability, identify live business opportunities, increase efficiency in identifying Australian suppliers and initiate long-term commercial outcomes.

To a question, Moignard quoted Australian Trade Minister Warren Truss as saying that Australia and India are finalising negotiations to set up a feasibility study on FTA between the two countries.

He expressed the hope that FTA, if comes into existence, will boost the trade between the two countries significantly.