Austrade media release 30 November 2009
Austrade’s Chief Executive Officer Mr Peter O’Byrne today highlighted the importance of Australia’s trade links with Taiwan.
Speaking at the 23rd joint conference of the Australia-Taiwan Business Council and the Taiwan-Australia Business Council in Sydney, Mr O’Byrne said Australian business had much to benefit from closer trade and investment engagement in the Asia Pacific, with Taiwan an important partner.
“Sixty-four per cent of all our exports go to Asia, and continuing Asian demand has helped Australia weather the storm of the global financial crisis,” Mr O’Byrne said.
“Last year, Taiwan was our eighth largest export destination, with merchandise exports increasing by nearly 40 per cent to A$8.7 billion for the year.
“In particular, Australia can benefit from closer engagement with Taiwan’s high-tech industries.
“In biotechnology and medicine, Australia’s companies are taking advantage of opportunities to connect with Taiwan’s world beating knowledge-based and research industries, in areas such as clinical trials, cooperative research, human medicine and health supplements.
“Companies such as Cochlear, ResMed and CSL have achieved significant success in Taiwan.
“With a total investment stake in Australia of over A$4 billion in 2008, Taiwan is also a valued investor.
“Business will continue to benefit from the strong economic and trade ties Australia enjoys with Taiwan,” Mr O’Byrne said.
ENDS Media contact David Varga, Senior Media Adviser, Ph: 02 9390 2191, Mobile: 0411 604 755
For further news and information from the Australian Trade Commission (Austrade) visit www.austrade.gov.au//mediacentre. |