Bengaluru (Karnataka) [India], November 19 : Melbourne Lord Mayor Nicholas Reece on Tuesday made a subtle remark about US tariffs, noting that "trade barriers" are increasing. He, however, said Australia is "open for business" and is looking for new opportunities to collaborate.
Speaking at the Bengaluru Tech Summit 2025, Reece underscored Australia's commitment to open markets, collaboration, and global engagement.
"Melbourne is very much open for business. We live in a world where there is a lot of change happening. We are seeing new trade barriers go up, tariffs. That's not our approach in Australia. In Australia we see opportunity. New opportunity to engage like never before, whether that is tech businesses, biotech students, visitors, people who want to start a new life as well," Nicholas Reece said while addressing the event.
Emphasising the large Indian population in Melbourne, over 4,00,000, he said said that Melbourne is the biggest city in Australia, having recently overtaken Sydney.
"My message to you today is very simple, Australia is open for business and we are reaching out to you, looking for new opportunities to cooperate and to collaborate. Australia, in fact, has one of the world's biggest diasporas, over 1 million in my city alone, over 400,000, close to half a million actually. People are Indian Australians. We in Melbourne is the biggest city in Australia now having recently overtaken Sydney. We are the fastest growing city in Australia as well and the fastest growing component of that about the city is our growing Indian community," he added.
Earlier this month, Union Commerce and Industry Minister Piyush Goyal visited Melbourne to hold bilateral discussions with Australian Minister for Trade and Tourism, Senator Don Farrell, and Minister for Skills and Training, Andrew Giles.
The constructive discussions focused on unlocking the full potential of the India-Australia Economic Partnership, including through an ambitious and balanced India-Australia Comprehensive Economic Cooperation Agreement (CECA).
During the meeting, the Ministers reviewed progress on the CECA negotiations and discussed pathways to elevate bilateral trade and economic partnerships. The discussions covered a wide range of areas, including trade in goods, services, investment and mutually beneficial cooperation.
In FY 2024-25, bilateral merchandise trade between India and Australia stood at USD 24.1 billion, with India's exports growing by 14% in 2023-24 and by a further 8% in 2024-25.