Chennai, Feb 26 (UNI) Australia's deepening economic parternship with India was further strengthened today by opening a new fulfledged office of the Austrailan Consulate-General in the city.

During the inauguration speech, Australian Minister for Trade Warren Truss said the establishment of the Consul-General in Chennai was a symbol of Australia's growing commercial engagement with this part of the sub-continent''.

''In 2006, India become Australia's eleventh largest merchandise trading partner and is our sixth largest merchandise export market with total exports exceeding US Dollar 8.8 billion'', he said adding ''India has grown faster than any of our top 30 export markets over the past five years -- at an average rate of almost 33 per cent''.

Mr Truss also recalled that Australian Prime Minister John Howard's visit to India last march resulted in the signing of a trade and economic framework with the Indian Government.

''This framework will create structure for both Governments to promote economic development'', he added.

He further underlined that last May, the Deputy Prime Minister and the former Minister for trade, Mark Vaile announced a US Dollar 6.5 million budget package to enhance Australia's commercial engagement with India.

Mr Truss said ''this new dynamism in bilateral relations has an increasingly practical side to it''.

''We have identified a number of key sectors for development'', he said adding ''South India is hub to India globally recognised IT industy''.

''Other growth include infrastructure, services, biotechnology, food and beverage and entertainment'', Mr Truss said.

Tamil Nadu Higher Education Minister K Ponmudi also attended the function.

UNI