Austrade media release
5 March 2010
A Memorandum of Understanding (MOU) promoting greater regional collaboration between Australian Chambers of Commerce across Asia will be signed today in Hong Kong at the 3rd AustCham Regional Forum.
Entitled ‘Tigers, Elephants and Dragons … Australia’s Business Future’, the 3rd AustCham Regional Forum will bring together Australia’s business elite from markets including Cambodia, China, Hong Kong, India, Indonesia, Japan, Korea, Laos, Macau, Malaysia, Philippines, Singapore, Taiwan, Thailand and Vietnam.
Austrade’s acting CEO Peter Yuile welcomed the commitment from the AustChams to work collaboratively and leverage opportunities for Australian businesses throughout the region which accounts for over 70 per cent of Australia’s merchandise exports.
"The initiative will bring together the resources of the AustCham networks to win business for Australia Asia-wide. It will be a particularly important step given intensifying intra-regional trade and opportunities emerging across multiple Asian markets,” Mr Yuile said
"It will also complement the increasing diversification of trade in the region. As well as the strong commodity trade, Australian businesses in the region are involved in joint ventures, investments, franchising, manufacturing and services trade.
"A great example of services success is the role of Macquarie Bank, Mallesons Stephen Jaques and Computershare in IPO floats on the Hong Kong Stock Exchange. Many other services companies are following their lead and entering growing services markets across the region,” Mr Yuile said.
Keynote guest speaker for the event will be Futurist and international publishing phenomenon, John Naisbitt whose books have sold more than 14 Million copies, including China’s Megatrends: The 8 Pillars of a New Society released in late 2009. Austrade’s Chief Economist Tim Harcourt will also present a keynote address on the increasing importance of Asia to Australia’s trade and investment.
Peter Yuile said the forum also complemented Austrade’s push to help win business for Australia as a result of the recently enacted ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA).
"AANZFTA will span 12 economies with over 600 million people and a combined GDP of $3.1 trillion,” Mr Yuile said.
"AANZFTA is an important building block towards deepening Australia's economic integration with the dynamic ASEAN region and today’s MOU, and combined with Austrade’s sharpened focus on opportunities across Asia, is good news for Australian companies looking to win business.
"Austrade looks forward to continuing its work with the Austcham regional network to facilitate greater trade and investment success for Australia,” he said.
Austrade is a sponsor of the 3rd AustCham Regional Forum 2010 which is entitled ‘Tigers, Elephants and Dragons … Australia’s Business Future’ and is being held in Hong Kong (4-5 March), see: www.austchamforum.com
Peter Yuile and Tim Harcourt (Austrade) are available for interviews.
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