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Former Australian Prime Minister Scott Morrison on Thursday said the proposed Comprehensive Economic Cooperation Agreement (CECA) between India and Australia should deepen economic integration, particularly in the services sector, while stressing that both countries should remain patient in negotiations to secure a mutually beneficial deal.
Speaking to ANI, Morrison said the India-Australia Economic Cooperation and Trade Agreement (ECTA), signed during his tenure with Prime Minister Narendra Modi, created the foundation for expanding bilateral trade ties. "ECTA, when we agreed on it some years ago between Prime Minister Modi and me, provided this opportunity. There was a basic trade agreement which was a first for Australia and India and a first in many respects," he said. Expressing hope that the proposed CECA would go beyond goods trade, Morrison said, "I would like to see it get into the services trade. I think there are real sensitivities around agriculture in India, which have always been understood by Australian leaders. I would hope that the agreement can go as far and wide as it possibly can into services, and ensure that our two economies become more tightly integrated." He said stronger trade partnerships become even more important at a time of uncertainty in the global economy. "In a world where there's a lot of friction in the global economy, you want to create trade relationships and economic partnerships where you can remove that friction because there's trust. That's what ECTA was designed to achieve," he said. Morrison cautioned against rushing negotiations, saying, "As with all trade agreements, you have to be patient, and you've got to hold out for the better, not the worst. You don't do an agreement just to tick a box; you do an agreement because it's in the national interests of both countries." Commenting on Australia's confirmation of arrangements enabling uranium exports to India for peaceful purposes under the 2015 civil nuclear cooperation agreement, Morrison said nuclear cooperation has long enjoyed bipartisan support in Australia. "It is a bipartisan position now, by both major sides of politics in Australia, to support uranium sales to India. That's not a controversial issue in Australia anymore. I'm pleased that we will be extending that partnership through what was announced today," he said. He also welcomed India's growing emphasis on nuclear energy. "I think what's probably more significant is the fact that India is making it very clear that nuclear is a big part of their energy future. Prime Minister Modi is leading the way in declaring a nuclear energy future for India, and that's an example for others to follow, including Australia," Morrison said. He added that "energy security is tightly linked to economic security and indeed national security." (ANI)
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