Australia strengthening trade and investment links with Spain

20 July 2009

Australia is strengthening trade and investment links with Spain.

Stronger trade and investment relationships and stronger government-to-government contacts were discussed at the recent inauguration of the Australia-Spain Business Forum in Sydney.

The King of Spain, HM King Juan Carlos I, addressed business leaders from both nations at the Forum, which was jointly hosted by Austrade.

Ten top Spanish companies, including Acciona, Abengoa and Navantia, were participants.

Speaking at the Forum, the Australian Parliamentary Secretary for Trade, Anthony Byrne, said that Spain and Australia’s commercial interests intersected in several important ways.

“Like Spain, Australia is acutely aware of the challenges of climate change, identifying and harnessing renewable energy sources, and managing water more efficiently,” Mr Byrne said.

“There have already been several important partnerships between our two nations such as the substantial Spanish investments in wind farms in Australia by Union Fenosa and Acciona Energy, and in the landmark Western Australian desalination project undertaken by Technican Reuunidas.”

Mr Byrne said he encouraged two-way investment between the two countries, particularly in areas such as clean energy and IT.

A number of Australian businesses such as Bovis Lend Lease have made substantial investments in Spain, while the South Australian-based Petratherm is the first company to develop a geothermal energy project in Spain.