trade articles

8/22/2019 Trade Articles

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O'Farrell seeks hi-tech passage to IndiaDate January 5, 2012

THE NSW government will boost its trade links with India when it becomes partners

with Australia in the CeBIT business conference to be staged in Sydney in May.

The Premier, Barry O'Farrell, and Deputy Premier and Minister for Trade andInvestment, Andrew Stoner, will today announce India's partnership with Australia atwhat they said is the Asia Pacific's largest information and communications technologybusiness exhibition.

Mr Stoner said the international platform would help build opportunities between theNSW and Indian economies. Last year Australia's partner country was Germany.

"It will help NSW companies target Indian [information and communicationstechnology] markets as well as business, trade and investment opportunities acrossother key sectors including professional services, education and research,manufacturing, tourism, and healthcare," he said.

"The NSW government is committed to growing our economy internationally throughbusiness, export, investment, and research and development opportunities,particularly with fast growing markets like India."

Mr Stoner, who will also lead a trade delegation to the US, Japan and Hong Kong nextweek, said Sydney and NSW would be promoted as a key Asia-Pacific investment

location for Indian companies wanting to target the Australian market and partner withNSW organisations.

"India is NSW's 14th largest trading partner, with bilateral trade between NSW andIndia valued at $1.93 billion in 2010-11 and exports to India growing at an average rateof 17 per cent per annum over the past five years," he said.

"Key NSW services exports to India include education and tourism but there is now awide range of NSW companies active in the Indian market, from hearing implantcompany Cochlear to biofuels company FAT Systems Pty Ltd, engineering servicescompanies GHD and SMEC, Leighton Contractors, Macquarie Equities, Cox

Architects, and major banks like the Commonwealth Bank and ANZ."

Mr Stoner will lead a delegation to the US from Monday to January 15 to promoteNSW in digital services, biotech and clean technology. He will also be involved in theAustralian American Leadership Dialogue, the first time a representative from NSWhas taken part.

The Deputy Premier said he was hoping to build on the state's wins from his last trip tothe US the establishment of a New York University campus in Sydney and twoHollywood films for NSW.

He said he would visit Tokyo and Hong Kong to court Asian investors withinfrastructure and finance opportunities in Sydney and NSW.


2/8

http://www.smh.com.au/it-pro/government-it/ofarrell-seeks-hitech-passage-to-india-20120104-1plc9.html

OFarrell seeks hi-tech passage to India

India is a major trading partner of Australia and the bilateral trade agreement between NSW

and India is valued at $1.93 billion in 2012 -2011 making it NSWs 14th largest trading

partner. Trade with India has been increasing at a relatively fast rate with an average increase

rate 17 percent within the last five years.

Mr Stoner, NSW Deputy Premier and Minister for Trade and Investment and the subordinate

of Barry OFarrell claims that Australia will benefit strongly from the emerging Indian

information and communications technology markets. The Australian government intends to

grow our economy internationally and growing markets like India are ideal trading partners.

Australias trade link with India opens business and investment opportunities in the areas of

professional services, education, manufacturing, tourism and healthcare. With regards to

exports education and tourism remains to be the largest contributor to India. A vast array of

Australian companies have been active in the Indian market ranging from Cochlear

(Australian largest hearing implant company) to FAT System Pty LTD, (biofuel company).

Others include Architect and engineering companies and two of Australias major banks

(Commonwealth Bank and ANZ). Overall, it is clear that India has a profound influence on

Australias trade and economy.
http://www.smh.com.au/it-pro/government-it/ofarrell-seeks-hitech-passage-to-india-20120104-1plc9.htmlhttp://www.smh.com.au/it-pro/government-it/ofarrell-seeks-hitech-passage-to-india-20120104-1plc9.htmlhttp://www.smh.com.au/it-pro/government-it/ofarrell-seeks-hitech-passage-to-india-20120104-1plc9.htmlhttp://www.smh.com.au/it-pro/government-it/ofarrell-seeks-hitech-passage-to-india-20120104-1plc9.htmlhttp://www.smh.com.au/it-pro/government-it/ofarrell-seeks-hitech-passage-to-india-20120104-1plc9.html


3/8

Swan ups talks for China currency trade

July 11, 2012

Treasurer Wayne Swan has announced a new high-level dialogue between Australianand Hong Kong business leaders on Chinese currency trade and investment asAustralia continues its push to become the third country allowed to directly convert itscurrency to the yuan.

Mr Swan, announcing the move with Hong Kong Financial Secretary John Tsangtoday, said the dialogue would be private-sector led and would be "an importantvehicle for deepening this valuable market and building deeper trade links between ourtwo economies".

The dialogue will be facilitated by the Australian Treasury, the Reserve Bank ofAustralia, and the Hong Kong Monetary Authority and will bring together seniorbanking and other business leaders from Australia and Hong Kong.

"This important initiative will foster closer collaboration between our two economies onthe potential to broaden RMB trade settlement, particularly in Australia's keycommodity exports," Mr Swan said in a statement from Hong Kong.

"It will also support the development of new RMB-denominated financing andinvestment products and closer RMB banking and financial links."

The dialogue will start in Sydney next year and continue in Hong Kong in 2014.

The Reserve Bank signed a RMB 200 billion ($30 billion) bilateral currency swap withthe Chinese central bank in March.

Australian companies wanting to buy or sell the Chinese yuan must convert theirholdings into US dollars or yen first.

http://www.theage.com.au/business/china/swan-ups-talks-for-china-currency-trade-

20120711-21vb4.html
http://www.theage.com.au/business/china/swan-ups-talks-for-china-currency-trade-20120711-21vb4.htmlhttp://www.theage.com.au/business/china/swan-ups-talks-for-china-currency-trade-20120711-21vb4.htmlhttp://www.theage.com.au/business/china/swan-ups-talks-for-china-currency-trade-20120711-21vb4.htmlhttp://www.theage.com.au/business/china/swan-ups-talks-for-china-currency-trade-20120711-21vb4.htmlhttp://www.theage.com.au/business/china/swan-ups-talks-for-china-currency-trade-20120711-21vb4.html


4/8

Swan ups talks for China Currency

Trade

Treasurer Wayne Swan has announced that Australia is pushing to become the third country

in the world to be allowed to directly convert Australian Dollars to Chinese Yuan. Mr Swans

discussion with John Tsang, Hong Kongs Financial Secretary was crucial in deepening this

valuable market and developing a deeper trade link between two economies. The ultimate

aim of pushing for direct conversion from Dollar to Yuan is to broaden RMB trade settlement

in particular in the area of Australias major commodity exports and in bringing closer RMB

banking and financial links. Another talk is scheduled in Sydney next year and will later be

continued in Hong Kong in 2014 regarding this matter. If an agreement is met, Australian

companies would be saved the inconvenience of converting holdings into US dollars or Yen

before buying or selling the Chinese Yuan.


5/8

Deepening economic ties withChina is a priorityTHIS year marks the 40th anniversary of the establishment of diplomatic relations with

the People's Republic of China, a Whitlam government decision that boosted government-

to-government ties and turbocharged the economic relationship.

In 1973, when Gough Whitlam became the first Australian prime minister to visit China, tradebetween the two countries was just above $100 million; 40 years later, it is more than $100billion. But as we reported yesterday, Australia's business leaders are concerned that thebilateral relationship has been mishandled by the Labor government - a claim the governmentdisputes, arguing there there have been more than 45 ministerial visits since 2007 and that JuliaGillard has visited every year of her prime ministership. Nevertheless, suggesting Australia has

fallen behind other nations, business leaders have secured a regular business-to-businessdialogue - the Sino-Australian Business Leaders Partnership Initiative - which will deepen theeconomic ties.

The business delegation to China last week included Fortescue Metal's Andrew Forrest,National Australia Bank's Michael Chaney, ANZ's Mike Smith and Transfield's TonyShepherd, who is also president of the Business Council of Australia. They were granted a rareaudience with Chinese Vice-Premier Wang Qishan. Mr Shepherd told The Australian he wantsto see business take the lead in building the economic relationship. To do so, Mr Forrest said anew "commercial platform" was needed and that increasing trade was vital to the "standard ofliving of every Australian".

The initiative by business leaders coincided with a warning that the flow of Chinese investmentto Australia may be on the wane as capital flows are being diverted to mining projects inCanada and Africa. As we reported yesterday, there are fewer Chinese investors signing newdeals in Australia and those that are signed are dwarfed in size by those secured in Canada,such as the bid for oil company Nexen. Analysts suggested Chinese investors were concernedabout the cost of doing business in Australia, in addition to the mining and carbon taxes, thedifficulty of using foreign labour and environmental approval processes. Meanwhile, limitedaccess to capital for investment projects and a fall in commodity prices has added to concernsin the local mining industry.

It is therefore urgent that business and government work together to deepen the economicrelationship between Australia and China. The government-to-government relationship isinexorably linked to the business-to-business relationship. The government's Asian Centurywhite paper could help to foster ties and business opportunities in the region. However, a keyfactor in spurring business leaders to seek to reinvigorate the relationship was the Gillardgovernment's decision not to send an Australian representative to the Boao Forum for Asia inApril. Within China, this meeting is seen as important as the World Economic Forum in Davos.As business suggests that the lack of a government strategy towards China is undermining theeconomic relationship, it is essential Labor, which was at the forefront of expanding ties in theregion, ensures China remains an economic and diplomatic priority.

http://www.theaustralian.com.au/news/opinion/deepening-economic-ties-with-china-is-a-priority/story-e6frg71x-1226444259957
http://www.theaustralian.com.au/news/opinion/deepening-economic-ties-with-china-is-a-priority/story-e6frg71x-1226444259957http://www.theaustralian.com.au/news/opinion/deepening-economic-ties-with-china-is-a-priority/story-e6frg71x-1226444259957http://www.theaustralian.com.au/news/opinion/deepening-economic-ties-with-china-is-a-priority/story-e6frg71x-1226444259957http://www.theaustralian.com.au/news/opinion/deepening-economic-ties-with-china-is-a-priority/story-e6frg71x-1226444259957http://www.theaustralian.com.au/news/opinion/deepening-economic-ties-with-china-is-a-priority/story-e6frg71x-1226444259957


6/8

Deepening Economic ties with China is

a Priority

This year marks the 40th anniversary of the establishment of diplomatic relations between

Australia and China. In 1973, Australian Prime Minster Gough Whitlam became the first

Australian leaders to visit China. At the time trade between these two countries were limited

to $100 million, a minute proportion of the amount of trade today. Over a period of four

decades trade between China and Australia has increased exponentially to over $100 billion.

However, even due to the vast improvement in trade, Australian business leaders are

becoming increasingly concerned that the bilateral relationship is mishandled by our current

Labor Government and fears that Australia has fallen behind other nations. Mr Forrest from

Fortescue Metal maintains that a commercial platform is necessary and that thestandards of

living of every Australian are dependent on increasing trade.

Statistics have shown that the flow of investment coming from China is forever dwindling

and fewer Chinese investors are signing deals in Australia. In addition, deals being signed are

only a fraction of previous deals due to competition coming from Canada such as the oil

company Nexen. There has been suggestion that investors from China are concerned with the

high cost of overseas business with Australia due to high labour cost, the carbon tax and

difficulty of receiving environmental approval. Also seeing a major portion of Australian

exports such as coal and iron ore goes to China and the current fragile situation places stress

on mending the strong economic relationship. Evidently, it is clear Australias prospect ofexpanding ties in the region is largely dependent on China remaining an economic and

diplomatic priority.


7/8

Baillieu on new mission to woo China trade

June 1, 2012

VICTORIAN Premier Ted Baillieu will lead what is expected to be Australia's largesttrade mission to China in September.

His government will also spend an additional $50 million over the next four years tomore than double the state's commitments to trade missions.

The Premier, in making the announcements during a speech yesterday at the WindsorHotel to mark Chinese Business Week, said Victoria was ''moving to a new level ofengagement'' with China.

''Last September I had the privilege to visit China on my first overseas trip as premierand this year Victoria will return with Australia's largest ever trade mission - some 400-plus businesses across 10 key sectors of Victoria's economy,'' he said.

The sectors represented would include automotive, education, information andcommunications technology, urban systems design, tourism, commercial aerospace,aviation, health and life sciences, food and beverage.

Mr Baillieu listed Victoria's successes in Wujin in Changzhou, part of Jiangsu Province,as examples of what the state's businesses could achieve. These included an arts andcultural precinct overseen by Studio 505's architects and the state's involvement in the2013 China Flower Expo.

''It is questionable whether Australia is fully harnessing the potential that such asignificant market presents for our products and services,'' he said.

''From a Victorian perspective, our clear focus will be to proactively articulate theinvestment value propositions to Chinese investors. We're determined to see morehigh-profile companies establishing their regional headquarters in Melbourne to growour economy and increase employment.''

The government had just opened a State of Victoria Representative Office in Beijing.The office, in addition to offices in Shanghai, Nanjing and Hong Kong, would operateas a "commercial embassy" for Victoria.

Mr Baillieu said the additional $50 million in funding would boost Victoria's internationalengagement efforts. Key second and third-tier Chinese cities would be targeted to helpbuild Asian literacy and strengthen networks in Chinese communities.

Mr Baillieu also announced a new Victoria China Tourism Strategy, including languageservices, assistance for education, migrant and business links, and strategies foraligning tourism investment to the Chinese visitor market.

The government will launch an $8 million tourism marketing campaign in China thisyear.


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http://www.theage.com.au/victoria/baillieu-on-new-mission-to-woo-china-trade-20120531-1zkmb.html

Baillieu on New Mission to Woo China

Trade

In September, Victorian Premier, Ten Baillieu is expected to co-ordinate Australias largest

trade mission with China. His government has planned to spend an additional $50 million

over the next four years to enforce the states commitment to trade mission. During the

premiers last visit to China he returned home with the news of Australias largest trade

mission with China is to be expected. The fields of this mission include: automotive,

education, urban system design, tourism, information and communication technology,

commercial aerospace, health and life sciences, aviation and finally, food and beverages.

Victoria is expecting well-known Chinese companies to establish headquarters in Melbourne

which is believed to contribute to grow the Australian economy and increase employment. In

return the Victorian Government had opened a State of Victoria Representative Office in

Beijing. Additional offices are also open in various other cities such as Shanghai and Hong

Kong which would operate as a commercial embassy making trading between China and

Australia much easier. The premier has also announced new Victoria China Tourism Strategy

which involves language services, assistance for education, migrants and business links, and

marketing strategies in promoting Chinese tourism to Australia.
http://www.theage.com.au/victoria/baillieu-on-new-mission-to-woo-china-trade-20120531-1zkmb.htmlhttp://www.theage.com.au/victoria/baillieu-on-new-mission-to-woo-china-trade-20120531-1zkmb.htmlhttp://www.theage.com.au/victoria/baillieu-on-new-mission-to-woo-china-trade-20120531-1zkmb.html

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