Austrade media release
15 September 2010
Australian and British business leaders met in London yesterday to discuss ways to grow the trade and investment links between the two nations, as part of the Australialive CEO Forum.
Speaking at the event, which focused on the finance and resources sectors, Austrade’s Regional Director for Europe, Middle East and Africa, Ian Wing encouraged British businesses to look at Australia’s strategic offering as a trade and investment partner.
“Australia is an investment destination and prospective commercial partner with something quite unique to offer,” said Mr Wing.
“Besides the undisputed strength of our economy through the recent challenges, Australia is well positioned both in a geographical and political sense to maximise growth opportunities.
“We have been growing our trade and investment links with Asia and have the ability to capitalise on the rapid growth in China and other Asian economies.
“Together, these factors have created one of the most competitive economies in the Asia Pacific and one of its most attractive investment destinations.
Mr Wing said that the investment and business relationship with Europe were important to Australia.
“Europe accounts for 34 per cent of all foreign direct investment in Australia and this is distributed across a broad range of sectors. Moreover, this investment is estimated to account for 1.4 million Australian jobs either directly or indirectly; or 12 per cent of the Australian workforce.”
The UK is second only to the US as the largest single national source of FDI.
About a third of all regional headquarters located in Australia are European and almost half of that is British - about 1,000 British companies have a presence in Australia, with an annual turnover of AUD$120 billion.
Mr Wing noted that 75% of Forbes 500 companies are based in London and more than 500 foreign companies are listed on the London Stock Exchange.
“Business decisions are made here not just for investments in the UK but also for Europe, the Middle East, Africa and the rest of the world.
"Austrade London is using these natural business linkages – or ‘London Bridges’ as we are calling them – to provide access to global decision-makers for Australian companies and generate regional business opportunities.”
Australialive 2010 UK is a showcase of Australian trade and investment opportunities to British businesses and consumers. It captures the local market’s imagination by displaying the scope of what Australia offers as a thriving economy, exciting trading partner and the best holiday destination in the world.
ENDS
Media contact
Samantha Mattila ph: + 61 (0) 2 9392 2388 m: + 61 (0)434 567 673:
| Australialive CEO Forum - Fact Sheet |
The Australialive CEO Forum is expected to be the most significant gathering of Australian and UK business leaders in London in 2010. This trade and investment event will focus on the bilateral trade links between the two countries with a special emphasis on Australia and the UK’s Financial and Resources sectors.
The CEO Forum will include a Financial Panel where senior representatives from Australia’s financial institutions active in the UK and Europe will discuss a range of topical issues including the regional economic outlook, the sustainability of AA ratings, Australia’s economic growth prospects, regulatory environment and London’s future as a financial services centre.
The panel comprises: Warren Hogan, Chief Economist, ANZ Bank; James Shugg, Senior Economist, Westpac Institutional Bank; Michael Workman, Senior Economist, Commonwealth Bank; and Tom Vosa, Head of European Market Economics, National Australia Bank.
The CEO Forum will also stage a Resources Panel that will explore a range of topics including sovereign risk, the influence of China and India, the role of London in mining today. The Resources Panel comprises senior representatives from Australia and the UK’s leading natural resources companies: Sir John Grant, EVP Policy and Corporate Affairs, BG Group; Andrew Mackenzie, Group Executive, BHP Billiton; Mark Southey, MD Global Minerals and Metals, WorleyParsons; and Tim Riddell, Senior Strategist for Markets, ANZ. |
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