Media release
Thursday 3 October 2002 - MVT118/2002
Australian Engagement: A New Era of Openness
Australia offers investors a safe haven of opportunity in the Asia
region, Trade Minister Mark Vaile told an Asia Society conference
in New York today (3 October).
Mr Vaile addressed the conference on the topic Australian Engagement:
A New Era of Openness. The address was part of four-days of trade
talks with US officials and business leaders in Washington and New
York.
"Australia is a strongly performing economy with an active program
of economic reform. It provides a reliable springboard for doing
business in East Asia," Mr Vaile said.
"Australia enjoys excellent and close bilateral relations with countries
in East Asia. 600,000 Australians speak Asian languages, an indication
of the depth of understanding of the region and expertise in Asian
affairs in Australia.
"We are the fourth largest economy in East Asia and are enmeshed
in the future growth of the region through our role as a leading supplier
of goods such as minerals and agriculture in particular, and associated
services.
"Many US-based companies have recognised the value of investing in
Australia and basing their headquarters for regional operations in
Asia. US firms in Australia employ almost 300,000 Australians."
Mr Vaile said Australia's overall trade strategy was to pursue opportunities
at the multilateral, regional and bilateral levels.
"Australia's long-term prosperity is intertwined with the prosperity
of the Asian region. North Asia - Japan, Korea and China - accounts
for 35 per cent of our total trade. South East Asia accounts for
14 per cent. Our prosperity and that of the region relies on us sustaining
the momentum for free trade and open economies," Mr Vaile said.
"We have established a closer economic partnership to better integrate
Australia, New Zealand and the 10 members of ASEAN. We are negotiating
agreements with Singapore and Thailand to liberalise trade and investment,
and have agreed to negotiate economic agreements with China and Japan,
and to explore better economic ties with South Korea.
"Australia is also committed to the current round of World Trade
Organisation negotiations, as the best way of pursuing global trade
liberalisation."
The Asia Society is America's leading institution dedicated to fostering
understanding of Asia and communication between America, Asia and
the Pacific.
Media Contact: Mark Croxford +61 02 6277 7420
Local Date:
Friday, 05-Dec-2008 14:13:40 EST
