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Austrade says Socceroos win will bring export opportunities

Austrade media release

17 November 2005

Austrade’s Chief Economist, Tim Harcourt predicts the Socceroos triumphant entry into the World Cup finals in Germany that gets underway in June next year will result in increased trade between our countries.

“When high profile sporting events are held around the world and Australia is involved, it has proven to lead to business deals being sought and made,” he said.

“Currently 2,507 Australian companies export to Germany; the second most important European destination for our exports. I would advise Australian businesses to look to Germany seriously over the next year to seek out further export opportunities that will arise now Australia will compete in the World Cup finals.”

Mr Harcourt said in addition to the opportunities in Germany, business ties will be forged with Asia following Australian football’s recent success in joining the Asian Football Confederation (AFC).

“Australia will start playing against Asia in January 2006, giving business a real chance to build on some Australian-Asian sporting tradition with spin-offs for trade and business in the region as well.

“Between 2006 and 2009 leading up to the 2010 World Cup, the Australian national side will play at least 18 full competition home and away matches against other Asian sides, with the Asian Cup, World Cup qualifiers filling the program for starters.

“According to Austrade research, the top ranked AFC nations account for around $42 billion in exports compared to $13.6 billion of the top ranked FIFA (world football’s governing body) nations. These figures are based on Australia’s top ten export destinations, which include Japan (No. 1), China (No. 2), South Korea (No. 4) and Hong Kong (No. 8).

“Austrade’s Business Club Australia (BCA) is a great example of a sports business networking program that works. During the Sydney Olympics it generated $1.2 billion in business and around $370 million at the Rugby World Cup. BCA is now in full gear for the Commonwealth Games in Melbourne,” Mr Harcourt said.