Melbourne: India and Australia on Thursday finalised the administrative arrangements necessary to enable the export of Australian uranium to India for
exclusively peaceful purposes during Prime Minister Narendra Modi’s visit. The pact was signed under 2015 Australia-India Nuclear Cooperation Agreement. Australian Prime Minister Anthony Albanese made an announcement in this regard after bilateral talks with PM Modi as part of the third India-Australia Annual Summit Joint. In a joint statement, both PMs welcomed trade under ECTA (Economic Cooperation and Trade Agreement). “Both Prime Ministers welcomed the finalization and signing of the administrative arrangement for uranium exports. This arrangement will enable the long-term export of Australian uranium to India for peaceful purposes only, under the safeguards of the International Atomic Energy Agency (IAEA),” the joint statement read. “Today, we can confirm the signing of the arrangement to enable uranium exports to India for peaceful purposes under 2015 Australia- India Nuclear Cooperation Agreement,” Albanese said. India will now get uranium for cheap, reliable and clean electricity. While issuing a joint statement, PM Modi spoke about the nuclear agreement with Australia, saying it will enable uranium supplies to India and bolster the country's clean energy ambitions. PM Modi also highlighted fast-tracked Comprehensive Economic Cooperation Agreement (CECA) partnerships with Australia in critical minerals and nuclear energy “In the nuclear energy sector, we have signed an important agreement today. This will pave the way for uranium supply from Australia to India, and this will give new strengthen to our aim for clean energy. Our cooperation in the area of critical minerals is important for our strategic security and clean energy transition. We will also work on a critical minerals corridor,” he said. Both nations also agreed accelerate work on a broader economic partnership. The two countries also stagted that they would strengthen bilateral energy trade and investment through the existing ECTA. The joint statement noted that India and Australia expressed concerns over the Middle East crisis and its impact on global energy markets, commodity prices, and supply chains.. India and Australia also finalised a Joint Maritime Security Collaboration Roadmap aimed at strengthening maritime domain awareness through coordinated patrols.
