India and Australia also agreed on a Framework for Security Cooperation.
“I greatly welcome the New Framework for Security Cooperation. Security and defence are important and growing areas of the new India-Australia partnership — for advancing regional peace and stability, and combating terrorism and trans-national crimes,” Modi said.
“This morning’s visit with Prime Minister Abbott to the Australian War Memorial reminded us of the need to strive together for a better world,” he said.
Modi, who is the first Indian Prime Minister to visit Australia in 28 years after Rajiv Gandhi in 1986, said “I would like to say that it has been nearly three decades since the last Prime Ministerial visit from India. The fact that we have exchanged visits in two months is a sign of better times to come.”
Modi also thanked Australian Prime Minister Abbott, the people and the federal and the state governments of Australia for a wonderful visit so far.
“Prime Minister Abbott and I have spent the last week together ? at the East Asia Summit, the G20 and for this bilateral summit. This reflects the broad framework of our relationship, defined by a growing partnership in the cause of a peaceful and prosperous world, and a strong and broad-based bilateral relationship,” he said.
Modi also touched upon cultural and sporting ties between the two countries, saying that cricket and hockey are the “natural glue” between the people of the two countries.
“I am pleased with the new Cultural Exchange Programme signed today. India would establish a Cultural Centre in Sydney by February 2015. We plan to hold a Festival of India in Australia in 2015 and tourism weeks in Australia,” Modi said of the agreements signed in the cultural and tourism sector.
“The Social Security Agreement is a really positive development. It will help in making our business relations stronger, especially in the Services Sector,” he said.
Modi and Abbott had summit talks in Delhi last month during which India and Australia sealed a landmark civil nuclear deal that will facilitate sale of uranium to New Delhi.
The two leaders had earlier directed their respective negotiators to conclude the administrative arrangements pertaining to the civil nuclear pact at an early date that will facilitate uranium trade.
Australia has about 40 per cent of the world’s uranium reserves and exports nearly 7,000 tonnes of yellow cake annually. India and Australia had commenced negotiations for the sale of uranium in early 2012.
The two-way trade stands at a relatively modest USD 15 billion a year compared with USD 150 billion for Australia’s two-way trade with China.
