The negotiations include sale of uranium to India for it various nuclear power programs. PM Julia Gillard already overturned ban on uranium export to India. Julia Gillard was ruling the labor party when the ban was removed last December.
Australia holds a large amount of Uranium, estimated to be about 40% of the world’s total uranium. By virtue of this, the country exports Uranium to various countries including Japan, China, US and Taiwan. However, Australia does not export uranium to India because Indian is yet to sign nuclear Non-Proliferation treaty.
PM Julia Gillard in an interview said that she thinks that the negotiation on sales of uranium to India is expected to last at least for two years. Due to a change in selling policy of uranium there are now no restrictions on Australia in regard to sale of Uranium to India. She gave this statement on Tuesday in during her visit to India. The three-day visit to India results in comprehensive negotiation about the new nuclear corporation agreement. It is also expected that PM Julia Gillard would attend meetings with senior government ministers and President of India, Mr. Pranab Mukharjee. The meeting with Indian President is expected to take place on Wednesday in New Delhi.
Economic relationship between the two countries is expected to flourish after this meeting with Australian Prime Minister. Bilateral trade between two countries is worth $20 billion and there is an increase in of it by 20% every year. In addition, PM Julia Gillard announced the news of especial honor to Indian cricketer Sachin Tendulkar. Sachin will be awarded the “Order of Australia”, an award which is one of the highest honors of Australia.
Indian Prime Minister Manmohan Sign gave Australian PM a warm welcome and participated in the talks about the purchase of valuable ores. According to the sources, New Delhi is in dire needs to buy these valuable ores with a view to complete its ambitious nuclear plans and programs. Australia has already opened the door for selling Uranium to India. In these meetings with Australian PM, there were also talks of a peaceful nuclear corporation. Last time, India did not sign the Nuclear Non-Proliferation Treaty, but this time around, there are important amendments in the agreement. So, India is more likely to sign it.