AP, Western Australia sign agreements to strengthen partnership
As part of efforts to empower synergies between Western Australia (WA) and Andhra Pradesh, six letters of intent (LoI) were signed here at on Saturday in the presence of Roger Hugh Cook, Deputy Premier and Minister for State Development, Jobs, Trade, Tourism, Commerce and Science, David Alan Templeman, Minister for Culture, Arts, Sports. Recreation, International Education and Heritage from WA, Minister for Industry and Commerce Gudivada Amarnath and Minister for Finance Bugganna Rajendranath representing AP.
image for illustrative purpose
Visakhapatnam As part of efforts to empower synergies between Western Australia (WA) and Andhra Pradesh, six letters of intent (LoI) were signed here at on Saturday in the presence of Roger Hugh Cook, Deputy Premier and Minister for State Development, Jobs, Trade, Tourism, Commerce and Science, David Alan Templeman, Minister for Culture, Arts, Sports. Recreation, International Education and Heritage from WA, Minister for Industry and Commerce Gudivada Amarnath and Minister for Finance Bugganna Rajendranath representing AP.
The LoIs pertain to promotion of higher education and collaboration in skilling, mining and minerals, food processing, renewable energy storage and battery manufacturing, sustainable fishing and food processing industries.
WA and AP had signed a Sister State relationship agreement in 2016. This agreement has strengthened relationships between the two regions and has accelerated achievements and opportunities for the two States. A LoI was signed by Rebecca Brown, Director General of WA's Department of Jobs, Tourism, Science and Innovation, and AP Director of Industries G. Srijana on behalf of AP Economic Development Board.
"We hold AP in high esteem as a large number of our overseas students are from Andhra Pradesh. We also have a large number of skilled manpower from India," Templeman, told Bizz Buzz after the meeting.
The members of the delegation from WA said they were planning to open an office of their Trade and Investment Department in Chennai, the second after the one set up in Mumbai in 1996, to foster ties between their State and South India.
The delegation also wants to explore the possibility of having a direct flight from Perth to one of the metro cities.
"A direct flight from Perth to Chennai, Mumbai or Delhi to avoid circuitous and time-consuming trips with layovers at Singapore or Bangkok," Neil Fergus, Chief of Staff, office of Roger Cook, Deputy Premier, said.
A large team of delegates consisting 120 members, 30 of them from the education sector, are currently touring India from WA to explore opportunities of mutual interest.
India and Australia are in the process of implementing the Australia-India Comprehensive Economic Cooperation Agreement. The two countries increased their trade volume from $13.6 billion in 2007 to $24.3 billion in 2020 to $45 in next five years by avoiding double taxation and removing restrictions and cutting taxes on trading of several goods and services.
Referring to the agreement, Finance Minister Rajendranath said AP and WA want to play a key role in achieving the target and AP has also been identified as a top destination for various partnerships and exchange of know-how.
He said AP has a 974-km long coastline, the second largest after Gujarat and strong will to improve on the economic front under the visionary leadership of Chief Minister Y.S. Jagan Mohan Reddy and pointed out how AP had secured No. 1 ranking in Ease of Doing Business fourth time in a row.
AP Industries and Commerce Minister Amarnath said there is a need for amendment in regulation pertaining to 'double taxation avoidance agreement' to stop taxation on offshore income of Indian firms providing technical support. He said the issue would be discussed with Union Commerce Minister Anupriya Patel shortly in Delhi.
He said the cargo handling capacity of AP ports is ranked No.2 in India by handling 100 million tonnes per annum and they have plans to raise it to 300 million tonnes by 2024.
He said the government through AP Economic Development Board is developing four greenfield ports at Bhavanapadu, Machilipatnam, and Ramayapatnam and nine fishing harbours at a cost of Rs.9,000 crore. The tri-city growth corridor covering Chennai-Tirupati-Nellore figures in one of the top 10 places manufacturing destinations in India, attracting domestic and international investors.
Special Chief Secretary, Industries Karikal Valaven in his address stated that despite the pandemic, in the past three years, AP had attracted 27,000 micro, small, medium and large industries with an investment of Rs.45,000 crore creating employment for 2.3 lakh people.
