Transcript - Western European investment in Australia
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>>David Campbell: Western Europe's a very important market for foreign direct investment. In fact, as a region it's the most important globally. So there's something of the order of $100 billion invested out of Western Europe in Australia and it covers a multitude of sectors.
So from mining and energy, resources through infrastructure, agricultural and food technology, advanced manufacturing, it goes on and on and on.
For companies from Western Europe I think it's significant that Australia is a AAA rated country.
We've experienced more than 22 years of uninterrupted growth which resonates with Europe, which is in the middle of a difficult economic environment.
Our proximity to the Asian region, which is the growth engine of the world is a significant factor for Western European companies also.
Also we have a strong culture of innovation and strong research and development skills and Western European companies want to exploit that and so they see opportunities in Australia.
We have a strong culture of innovation and strong research and development skills and Western European companies want to exploit that and so they see opportunities in Australia.
Well there's a lot of research and development activity in Australia around advanced materials. To give you one example: in Geelong outside of Melbourne there's activity that's been undertaken by Deakin University with VCAM in carbon fibre technologies and they're very advanced in carbon fibre bonding and we managed to put them together in contact with the MAI Carbon Cluster outside of Stuttgart in Germany.
Their specialist expertise is in carbon fibre production, so they produce sheeting. So they're complementary skill sets and they're currently working on production of carbon fibre panelling for Aldi in Germany.
So hopefully in the future we'll see carbon fibre motor vehicles which, of course, are more energy efficient because they're lighter.
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