Media Release
Thursday, 11 December 2003 - MVT94/2003
Opportunities Abound in Middle East
Australia’s continuing commitment to enhancing commercial relations with the Middle East was the focus of a week-long visit to Iraq, Kuwait, the United Arab Emirates and Saudi Arabia by Trade Minister Mark Vaile which ended today.
“Strong oil prices, sound economic management and the reconstruction of Iraq point to continued growth in opportunities for Australian exporters in the Gulf region,”Mr Vaile said.
Mr Vaile met with his counterparts and other senior ministers in all four countries highlighting Australia’s credentials as a strategic partner and a reliable exporter of commodities, sophisticated manufactured goods and services.
Australia’s total exports to the Middle East region are already significant –with automobiles, alumina, wheat and livestock the leading exports. Prospects for these remain strong and Mr Vaile reaffirmed Australia’s commitment to building on our export performance in the region.
In particular, Mr Vaile said there was scope to expand into the lucrative services market in the Gulf. On Monday, Mr Vaile opened the new Dubai campus of the University of Wollongong, which already has 1,600 students and 100 staff. Australian suppliers are also active in the construction and health sectors.
In Iraq, Mr Vaile met with Rear Admiral David Nash, Director, Infrastructure Reconstruction Office of the Coalition Provisional Authority. The CPA is now at the stage of initiating major infrastructure projects in Iraq worth US$18.5 billion, and Australian companies need to be ready to capitalise on the procurement opportunities.
“In my meeting with Rear Admiral Nash I underlined the contribution Australian companies could make in the rehabilitation effort across a range of sectors,”Mr Vaile said.
Mr Vaile urged his counterparts in Kuwait and the UAE to help bring much-needed momentum to the stalled Doha Round of WTO trade reform. Mr Vaile said Australia would continue to work with Saudi Arabia towards its accession to the WTO. “As the largest economy in the Gulf, Saudi Arabia belongs in the WTO and would make a positive contribution to the organisation.”
Contact: Brad Williams 02 6277 7420