Media release
Australian Minister for Trade, Mark Vaile
Wednesday, September 13, 2000
Growing Export Opportunities in the Middle East
Trade Minister, Mark Vaile, today released a new report outlining Australia's rapidly growing trade with Middle East Gulf countries and emerging business opportunities in the region.
"Australia's exports to the Arabian Peninsula and Iran have risen at 19 per cent annually since 1995 to reach A$3.4 billion in 1999-2000," Mr Vaile said.
"This rapid export growth has been accompanied by dramatic change in export structure, with the share of advanced manufactured goods in total exports rising from 5 to 34 per cent in the past decade."
Mr Vaile said a demographic bulge in the region – two-thirds of the population is under 25 – was increasing demand for housing, convenience food, utilities and services like construction, education and health care.
"Already, 14 Australian construction companies operate in the United Arab Emirates alone, while well-known Australian names such as Berri and San Remo are tapping into the growing demand for snack and convenience food."
Mr Vaile said the number of air links from eastern Australia to the regional hubs of Abu Dhabi and Dubai had grown from two a week in 1996 to 13 flights a week today.
"These improved links create opportunities to attract students to Australia and to provide courses in-country and it is pleasing to see a number of Australian universities pursuing these opportunities."
The report, Accessing Middle East Growth: Business Opportunities in the Arabian Peninsula and Iran, by the East Asia Analytical Unit (EAAU) in the Department of Foreign Affairs and Trade, is the first in the unit's new Other Emerging Markets Series. Broadening the unit's role to cover all emerging markets complemented the Government's strategy of promoting Australian trade and investment in less traditional markets, a strategy that helped Australia prosper despite the Asian crisis, Mr Vaile said.
Charts attached to the press release (pdf)
Local Date: Thursday, 20-Nov-2008 20:21:15 EST