The two Quad countries signed a migration deal and vowed to extend their partnership.
Australian Prime Minister Anthony Albanese and his Indian counterpart Narendra Modi have signed a migration deal following talks in Sydney and emphasized the importance of boosting cooperation on critical minerals and renewable energy. The migration deal will enable young Indian professionals to relocate to Australia and promote business travel between the two countries, according to the press release.
Besides migration, the two prime ministers also discussed renewable energy and critical minerals. In terms of clean energy, the two countries made progress in establishing an Australia-India Green Hydrogen Taskforce, while highlighting the opportunities stronger cooperation in mining and processing of critical minerals presents for the two Quad member states. The Quadrilateral Security Dialogue, commonly referred to as the Quad, also includes Japan and the U.S. and is viewed as a counterpart to the rising Chinese economic and military strength in the Indo-Pacific region.
China is Australia’s biggest trading partner, but the Pacific country is seeking to diversify its export markets, which includes forging closer trade ties with India. At the beginning of 2023, the two Quad members have already announced to strengthen their economic ties. Australia holds large reserves of natural resources and continuously expands mining operations, just a month ago, the government announced to invest millions in the raw materials sectorin the coming years. The world’s most populous country, India, also has some resources of critical minerals such as lithium of which a new deposit was discovered just a few months ago, but the projected demand for electromobility and clean energy could stretch the supply beyond capacities. A deepened cooperation could hence be mutually beneficial.
Photo: iStock/Oleksii Liskonih