Martin Ferguson AM MP
Minister for Resources, Energy, and Tourism

It is a pleasure to contribute to this edition of The Indian Express Group.

The Australian Government values the relationship with India, which has been identified by the Australian Prime Minister, the Hon Kevin Rudd MP, as “one of the great opportunities of this century for both nations.”

This opportunity has grown, as the Australian-India business relationship has deepened. Nowhere is this growth more evident than in the resources and energy sectors, which comprise the largest trade sectors between our two countries.

In 2006-07, the value of Australia’s mineral and energy exports to India exceeded $A9 billion, representing around 90 per cent of the value of Australian exports to India.

While the trade in goods and services is substantial, it is the trade in ideas, which shows the true depth of the relationship.

Our governments are working together through the Australia-India Joint Working Group on Energy and Minerals to exchange policy ideas, and address sectoral challenges and identify opportunities. On climate change, we are working through the Asia Pacific Partnership on Clean Development and Climate, the Carbon Sequestration Leadership Forum, the Methane to Markets Partnership and the East Asia Summit Energy Cooperation Task Force. These exchanges will provide Indian industry with direct access to work being undertaken in Australia, and support the transfer of skills and expertise to progress the global development of measures to address greenhouse gas emissions and, just as importantly, maintain and enhance energy security.

As a major energy supplier to the Asia Pacific region, we will work with our Indian friends to further grow our bilateral resources and energy relationship, and work to overcome challenges to its development.

My ministerial responsibilities also include the tourism industry, another sector which has also shown considerable growth.

The Australian Government expects tourism from India to continue to grow substantially, mirroring the spectacular growth in the Indian economy as a whole.

Last year, India was Australia’s second-fastest growing market, with Indian visitor arrivals increasing 13.6 per cent to 95,100. We expect Indian visitor arrivals to reach 440,000 in 2017.

To help meet this target, Tourism Australia will open an office in Mumbai in late 2008 to enhance engagement with the Indian tourism trade and to raise consumer awareness of the Australian tourism experience.

I share my Prime Minister’s optimism about India. Our relationship is one of the great opportunities of this century for both nations – and we are doing all we can to realise this opportunity.