Australia: UK Trade Minister's visit – July 2014
Published 30 July 2014
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0.1 Detail
Australian British Chamber
Lord Livingston undertook a packed bilateral programme in Sydney between 16 and 18 July prior to the G20 Trade Ministers’ Meeting. Highlights included an event hosted by the Australian British Chamber of Commerce, the launch of our new British Business Network, an infrastructure roundtable and bilateral meetings with Australian and New Zealand Trade Ministers, the Australian Communications Minister, and the Premier of New South Wales.
Australian Perceptions of UK Growth
In a keynote speech on the UK economy at a breakfast event hosted by the Australian British Chamber of Commerce (ABCC) and attended by over 150 of their members, Lord Livingston was able to get across strong messages about the dynamism and innovation of the UK economy – with growth expected to be the fastest of any G7 economy this year – underlining that the UK was very much open for business.
The Minister conveyed similar messages at a dinner for senior British company representatives and a lunch hosted by Fairfax Media, where he was able to counter a downbeat perception of the UK economy still held by many in Australia who are influenced by what they hear about the Eurozone. He also gave an in-depth interview on the UK economy and UK-Australian links to the Australian Financial Review.
British Business Network
Lord Livingston launched a new initiative – the British Business Network – at a well-attended event to encourage the large British diaspora in Australia to be UKTI’s ‘ears and eyes on the ground’ and alert us to new trade and investment opportunities. The initiative has been enthusiastically welcomed by many British business people here who are keen to maintain their ties with the UK. If successful, the initiative can be rolled out to other markets.
Road and Rail
The visit also provided considerable support to UK companies pursuing major road and rail opportunities in Australia under UKTI’s High Value Opportunities (HVO) programme. Lord Livingston participated in a panel discussion – organised jointly by UKTI and Infrastructure Partnerships Australia, and the first in a series of events – to promote infrastructure opportunities in both the UK and Australia and the need to look at innovative mechanisms for financing them. Feedback from UK companies participating suggested that the event could not have been better timed. He also took part in a photo opportunity with the Transport Minister for New South Wales, Gladys Berejiklian, to promote a multi-million dollar contract that Network Rail Consulting have recently secured to provide systems integration services for Sydney’s rail network.
Lord Livingston met Malcolm Turnbull, Minister of Communications, and discussed the UK model for the National Broadband Network.
0.2 Comment
Lord Livingston’s was the first by a UK Trade Minister to Australia for over two years. It was well-timed given the scale of the opportunities that exist for UK business. Australia is our 11th largest export market – with UK exports up 75% over the last seven years – and a major recipient and source of both FDI and institutional investment.
0.3 Disclaimer
The purpose of the FCO Country Update(s) for Business (”the Report”) prepared by UK Trade & Investment (UKTI) is to provide information and related comment to help recipients form their own judgments about making business decisions as to whether to invest or operate in a particular country. The Report’s contents were believed (at the time that the Report was prepared) to be reliable, but no representations or warranties, express or implied, are made or given by UKTI or its parent Departments (the Foreign and Commonwealth Office (FCO) and the Department for Business, Innovation and Skills (BIS)) as to the accuracy of the Report, its completeness or its suitability for any purpose. In particular, none of the Report’s contents should be construed as advice or solicitation to purchase or sell securities, commodities or any other form of financial instrument. No liability is accepted by UKTI, the FCO or BIS for any loss or damage (whether consequential or otherwise) which may arise out of or in connection with the Report.