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Prime Minister, Julia Gillard, has outlined in a speech in Asia Society today that Australia wants to tap into the booming economies of Asia, especially China, India and Indonesia. Australia’s raw materials, education and manufactured goods are in high demands in Asia. It is in the national interest of Australia to deal with Asian economies actively.
A white paper will be released by mid 2012, outlining various issues, risks, opportunities and benefits. Mr Ken Henry, ex-treasury secretary is the person who will do this job. This white paper will have detail of the short term initiatives [up to 5 years] and long term initiatives for a period up to 2025.
It is a no brainer for Australia to do so. In coming years and decades, Australian economy will get increasingly integrated with Asian economies. China, Japan, South Korea, India, Taiwan, Singapore and other nations from Asia are already our most important trading partners. This is going to increase more in the coming years. The booming economies in Asia have made people call it “Asian Century”, and indeed, it is a smart move for Australia to tap into these economies more actively and speedily.
There will be some political issues which may create some obstacle, but they can all be managed with varying degree of ease.
As far as India is concerned, there is one potential obstacle which comes to mind. Some have called it an unnecessary irritation. There are enough justifications for Australia to sell Uranium to India and earn goodwill with India. People who know this issue have all suggested that Uranium issue needs urgent attention, and sale agreed, to take the India-Australia relations to a much higher level. PM Gillard should not have any trouble in getting the relevant amendments of the existing Acts passed in the Parliament, because Coalition already supports Uranium trade to India.
In 2009, the bilateral trade between Australia and India was $20.87 billions. By now, it would have easily crossed $23 billions. With Uranium issue sorted, the bilateral trade can go to the top gear and easily double from the current value in a short to mid term.
To take the trade and relation at the higher level, it would be helpful to have an expertise in the national languages of these nations. In India’s case, there is a lot of points in favour of including India’s national language, HINDI, as a secondary language in the national curriculum. My previous Blog on Hindi is here. https://yadusingh.wordpress.com/2011/04/02/australian-national-draft-curriculum-for-second-tier-languageswhy-is-hindi-missing-from-it/
I am looking forward to this White Paper next year.
Yadu Singh/Sydney/28th Sept, 2011
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