23 February 2017 Current Affairs: The Union Cabinet gave its approval for signing of a Memorandum of Understanding (MoU) between India and Australia for promotion and development of cooperation in civil aviation security.
The approval was given at a meeting of the Cabinet chaired by the Prime Minister Narendra Modi on 22 February 2017 in New Delhi.
The MoU will also provide compliance of international obligation as well as enhance promotion in the area of security cooperation between the two countries.
India-Australia Relations : India and Australia have several commonalities, which serve as a foundation for closer cooperation and multi-faceted interaction between the two countries. The relationship has grown in strength and importance since India’s economic reforms in 1990s’.
The present bilateral cooperation extends to all the vital areas such as trade, energy, mining, science and technology, information technology, education and defence.
India and Australia cooperate in various multilateral fora. Australia supports India’s candidature in an expanded UN Security Council.
Both India and Australia are members of the G-20, Commonwealth, Indian-Ocean Rim Association (IORA), ASEAN Regional Forum and Asia Pacific Partnership on Climate and Clean Development.
Defence Cooperation between India and Australia has expanded significantly in recent years.
Prime Minister Narendra Modi paid a successful visit to Australia in November 2014. India is Australia’s largest export market for gold and chickpeas, the second largest market for coal and copper ores and the third largest market for lead and wool.
Four products – coal, non-monetary gold, copper ores and petroleum – account for over 80 per cent of India’s imports from Australia.
India’s major exports to Australia are pearls and gems, jewellery, medicaments and passenger motor vehicles.
There is an Indian community of nearly 2,95,000 in Australia. The community is contributing to the Australian economy in their role as teachers, doctors, accountants, engineers and researchers.