Austrade media release 22 January 2010
Americans will obtain a first-hand insight into the strength and diversity of Australia’s financial services sector at a forum in New York tomorrow, as part of the G’Day USA program. Minister for Resources and Energy, the Minister for Tourism, Martin Ferguson, is a keynote speaker at the event that will highlight the foreign investment opportunities in Australia.
Austrade’s Regional Director for the Americas, Grame Barty, said the event aims to reinforce the message about our highly developed financial markets and demonstrate why Australia is one of the major centres of capital markets activity in Asia,” Mr Barty said.
“Australia is recognised for its innovation and sophistication across investment and capital markets, and particularly in managed funds products,” Mr Barty said.
The other keynote speaker at the New York event is Jim Lambright the former Chairman and President, EXIM Bank of the United States and Chief Investment Officer of the Troubled Asset Relief Program.
Austrade’s New York-based Senior Trade Commissioner, Gerard Seeber, said that with a highly skilled and diversified workforce and a well-regulated and stable economy, Australia has emerged as one of the most resilient economies following the recent turmoil in financial markets. “Australia’s financial services sector continues to grow rapidly. It has benefited from significant structural reforms and strong and resilient economic growth over the past two decades,” Mr Seeber said.
"The Finance and Insurance sector is the largest contributor to the Australian economy, and contributed 10.8 per cent to real gross value added during 2008-09.
“As a leader in the financial services sector in Asia, Australia is strategically positioned for global organisations; with Australia’s large and mature financial services sector holding assets of more than A$4.3 trillion, equivalent to four times GDP.
"The sector is underpinned by the A$1.3 trillion fully-funded pension system, which continues to develop as a regional and global centre with Australian-based institutions seeking global mandates and international firms viewing Australia as a base for their products,” Mr Seeber. The United States continues to be a valuable market for Australian businesses looking to expand internationally. In 2008-2009, the US was Australia’s third largest trading partner with two-way trade valued at $53.1 billion.
Austrade has a network devoted to the US market, providing extensive support for Australian exporters and assisting US companies to invest in Australia. G’Day USA: Australia Week is produced by the Department of Foreign Affairs and Trade, Austrade, Tourism Australia and Qantas Airways. In addition to the founding partners, Australia Week is supported by the State Governments of New South Wales, Victoria, Queensland and South Australia and around 33 sponsors.
For more information on events being held, visit www.australia-week.com
ENDS Media contact Sarkis Khoury, Senior Media Adviser, Ph: (02) 9390 2118, Mob: 0414 401 072
For further news and information from the Australian Trade Commission (Austrade) visit www.austrade.gov.au//mediacentre.
|