Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

India Australia eye nuclear deal  Join our daily free Newsletter

MENAFN - Arab News - 05/09/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) MUMBAI: Australia's prime minister on Thursday hailed a uranium deal he is due to sign with India as a "sign of trust" following a long-standing ban on selling the fuel to the nuclear-armed nation amid proliferation fears.

Tony Abbott is expected to sign the agreement allowing uranium sales to India when he meets the new Prime Minister Narendra Modi a fellow conservative in Delhi on Friday during a visit aimed at boosting trade ties.

Australia the world's third biggest uranium producer had previously ruled out such exports to energy-starved India because it has not signed the Nuclear Non-Proliferation Treaty.

But Abbott said his government has now received the necessary commitments from New Delhi about only using the ore for its civilian nuclear programme.

"India has an absolutely impeccable non-proliferation record and India has been a model international citizen" he told reporters in Mumbai on the first leg of a his two-day visit.

"India threatens no one India is the friend to many India is the world's emerging democratic superpower. This is an important sign of the mutual trust that exists between Australia and India."

India and Australia kick-started negotiations on uranium sales in 2012 after Canberra lifted a long-time ban on exporting the valuable ore to Delhi to meet its ambitious nuclear energy programme.

Both India and its neighbouring rival Pakistan are nuclear-armed and along with Israel and North Korea are the only countries not signed up to the non-proliferation treaty to prevent the spread of nuclear weapons.

Australia's nuclear cooperation agreement for peaceful power generation will potentially ramp up India's plans for more nuclear power stations with only 20 small plants at present and a heavy dependency on coal.

India is struggling to produce enough power to meet rising demand amid its 1.2-billion strong population as its economy and vast middle-class expand. Nearly 400 million still without access to electricity according to the World Bank and crippling power cuts are common.

At the start of his visit Abbott told business leaders in Mumbai that there was an "abundance of opportunities" in India where Modi swept to power in May promising to open up Asia's third-largest economy to foreign investment.

"The purpose of this trip as far as I'm concerned is to acknowledge the importance of India in the wider world acknowledge the importance of India to Australia's future" Abbott said.

After laying a wreath at a memorial for victims of the 2008 attacks on the city he visiting Mumbai University to launch a scheme designed to get more Australians studying in the country.

While about 40000 Indians study in Australia each year "regrettably right now there are just a few tens of Australian students studying in India" said Abbott.

"That must change and that will change as a result of the New Colombo Plan" he said referring to the scholarship programme that will be rolled out across the Indo-Pacific region.

The premier also met Indian cricketing great Sachin Tendulkar and former Australian stars Adam Gilchrist and Brett Lee ahead of Australia's hosting of the World Cup next year.

 


Arab News




  MENA News Headlines
 Apr 28 2015 - Ambulances get green light at more intersectionsGulf Times
(MENAFN - Gulf Times) Emergency Vehicle Pre-emption System (EVPS) sensors have been installed at 50 more intersections, mainly across Doha and its neighbourhoods, by the Road Maintenance Department ...

 Apr 28 2015 - Spanish minister in Doha talksGulf Times
(MENAFN - Gulf Times) HE the Prime Minister and Minister of Interior Sheikh Abdullah bin Nasser bin Khalifa al-Thani meeting with Spain's Deputy Minister of Trade Jaime Garcia Legaz in Doha ...

 Apr 28 2015 - Ministry recalls Chevrolet ImpalaGulf Times
(MENAFN - Gulf Times) The Ministry of Economy and Commerce has launched a free recall campaign for Chevrolet Impala vehicles to repair a manufacturer's defect in the circuit for electric drive ...

 Apr 28 2015 - FM to chair GCC meeting in RiyadhGulf Times
(MENAFN - Gulf Times) HE the Foreign Minister Dr Khalid bin Mohamed al-Attiyah will chair a meeting for GCC foreign ministers that will be held in Riyadh on Thursday. GCC Secretary-General Dr Abdul ...

 Apr 28 2015 - S Korea plans major investment in QatarThe Peninsula
(MENAFN - The Peninsula) South Korea, one of Qatar's largest trading partners, is planning to make huge investments in Qatar, especially in the energy-intensive downstream industries, aiming to ...

 Apr 28 2015 - Saudi sees 'excellent' oil market as kingdom meets demandGulf Times
(MENAFN - Gulf Times) Saudi Arabia, the world's biggest oil exporter, will meet any demand for its crude as the kingdom seeks to keep customers happy and maintain a balanced market, Prince Abdulaziz ...

 Apr 28 2015 - Israel army kills four men on Syria border: security sourceThe Peninsula
(MENAFN - The Peninsula) Israeli armed forces on Sunday killed four people when they tried to plant bombs near the Golan Heights on the country's border with war-torn Syria, a security source ...

 Apr 28 2015 - Abu Dhabi taps Inpex to join $22bn oil projectGulf Times
(MENAFN - Gulf Times) Inpex Corp of Japan joined Total in developing the main onshore oil deposits in the UAE as Abu Dhabi calls on new partners for its $22bn effort to pump crude from its largest ...

 Apr 28 2015 - Iran general slams 'declining' Saudi over Yemen strikesThe Peninsula
(MENAFN - The Peninsula) Iran's Revolutionary Guards chief said Monday Saudi Arabia is verging on collapse as Tehran's position strengthens, putting the kingdom in the same camp as arch-foe Israel ...

 Apr 28 2015 - IS says two men stoned to death for adultery in IraqThe Peninsula
(MENAFN - The Peninsula) The Islamic State jihadist group said it has stoned two men to death for adultery in the northern Iraqi province of Nineveh, according to a series of photos posted online.One ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help