• FCO: UK and Australia - Partners in growth

    FCO: UK and Australia – Partners in growth

    Published 14th October

    On September 5th the Rt Hon Hugo Swire MP,  Minister of a State at the Foreign and Commonwealth Office, was in Melbourne and gave a speech to the Australian British Chamber of Commerce. Mr Swire has responsibility for Australia within his portfolio.

    in the speech the Minister congratulated Melbourne for being yet again the “most liveable city” and pointed to the fact that the Swire Group (distant relatives) started off in Melbourne in 1855.

    He delineated annual UK exports to Australia as exceeding AUD18 billions value, and imports from Australia to the UK nearly AUD10 billion.

    After the USA, Britain is the second largest foreign investor in Australia with AUD500 billion in total investment stock.

    Britain is also Australia’s second largest destination for overseas investment.

    Mr Swire pointed out the importance of strong traditional partners alongside the interest in new economies and that Australia was stronger than most Western nations throughout the Global Recession. He stressed the importance of the diaspora working through organisations, and using membership of the Commonwealth to strengthen these bonds.

    One third of the staff in Britain’s diplomatic network across Australia are engaged in meeting the Chancellor’s target of doubling the 2012 level of exports and inward investment by 2020 and Britain sees advantages to working together with Australia to address the Asian market.

    Britain is working with Australia within the G20 to liberalise trade.

    UK companies are making massive investments in Australia – e.g. energy giant BG Group with its $2.55 billion coal-seam gas project in Queensland.

    Mr Swire finished by affirming the close political relationship and that the annual AUKMIN talks have been meeting high expectations of productive cooperation.

    He said “This is a flourishing relationship with even greater potential for the future and we must continue to strengthen it.”

    The  full article by the FCO is here.

    Back to News

     

    • Britain-Australia Society Sponsors
    • Britain-Australia Society Sponsors
    • Britain-Australia Society Sponsors
    • Britain-Australia Society Sponsors
    • Britain-Australia Society Sponsors
    The Britain-Australia Society Sponsors

    The organisations shown have all committed to supporting this year’s events. Many thanks to them.

    Commonwealth Bank Australia, CPA AustraliaEtihadCA ANZ,
    Godiva ChocolatierTait Memorial Trust and Vestey Foods Group.