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`Indo-Australian trade can be expanded'
Our Bureau
Hyderabad
June 20
The diverse supply base of Australia in sectors such as food and beverages, consumer goods and IT and communications will allow for significant bilateral investments between Australia and India, according to Mr Aminur Rahman, Consul-General and Trade Commissioner (South India), Australia.
Speaking at a seminar on `Doing business with Australia" at the Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) on Wednesday, Mr Rahman said that the current investment between the two nations was over $1 billion from each side. "There is still huge scope for expansion in investment and trade," he said, adding that the Indo-Australian trade stood at $10 billion in the last fiscal.
Earlier, Mr N.K. Prasad, Commissioner of Industries, inaugurated an international trade facilitation centre at FAPCCI. Mr Atluri Subba Rao, President of FAPCCI, said that the centre would offer consulting services to the traders and exporters on various aspects of trade regulations.
"The fundamental aim is to cut down the transaction costs for the exporters and provide a pool of relevant data for exports in all key sectors."
The centre will act as a one-stop shop for exporters and importers of the State, he added.
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