Australia will offer up to 1,000 work and holiday visas to Indian citizens starting October 1, as part of the India-Australia free trade agreement. This initiative aims to enhance mobility and strengthen people-to-people connections, as highlighted by Commerce and Industry Minister Piyush Goyal during his recent visit to Australia. The India-Australia Economic Cooperation and Trade Agreement, which came into effect in December 2022, is fostering closer ties between the two nations.
Facilitating Mobility and Connectivity
Under the Work and Holiday visa program, Indian nationals aged 18-30 can apply for a one-year visa to work, study, and travel in Australia. Annually, Australia will grant up to 1,000 multiple-entry visas for a temporary 12-month stay to Indian citizens who meet the eligibility criteria outlined in Australian legislation. Moreover, discussions are underway to expand the current ECTA to a Comprehensive Economic Cooperation Agreement (CECA), further deepening economic ties between India and Australia.
Strengthening Bilateral Trade and Investment
Both countries are committed to achieving a bilateral trade target of AUD 100 billion by 2030. Through interactions with businesses in Sydney, the visit aimed at enhancing trade and investment relations between India and Australia. Additionally, the sixth session of the India-Egypt Joint Trade Committee took place in New Delhi on September 16-17, 2024, where key areas of cooperation between India and Egypt were identified.
Enhancing Trade and Investment Cooperation
Key areas of focus for bilateral cooperation between India and Egypt include the Suez Canal Economic Zone (SCEZ), pharmaceuticals, gems and jewelry, engineering, petroleum and mining, customs matters, and electronics manufacturing. Necessary approvals have been obtained for signing a Memorandum of Understanding (MoU) on cooperation between the National Small Industries Corporation (NSIC) and the MSME Development Agency (MSMEDA) of Egypt, paving the way for increased collaboration in trade and investment initiatives.
Conclusion
In conclusion, the initiation of the Work and Holiday visa program for Indian citizens by Australia signifies a step towards enhancing mobility and strengthening ties between the two nations. The ongoing efforts to expand the scope of the existing ECTA to a CECA and the commitment to achieving a significant bilateral trade target highlight the shared commitment to fostering mutually beneficial trade and investment relations. With a focus on key areas of cooperation, including those with Egypt, India aims to further enhance its trade and investment footprint on the global stage.