Some of the world’s biggest investors visited Darwin for the Northern Australia Investment Forum in early November.
The event, which was attended by over 350 business leaders from more than 20 countries, was hosted by the Federal Minister for Trade and Investment, Andrew Robb, in conjunction with the governments of the Northern Territory, Queensland and Western Australia; the Federal Minister for Resources, Energy and Northern Australia Josh Frydenberg; and Federal Minister for Tourism and International Education Richard Colbeck.
For more than a decade, Australia’s exports have been dominated by the commodity super-cycle and the resultant surge in resource exports. Meanwhile, the share of service exports fell to a low of just 16 per cent in 2011-12. While a significant increase in the supply capacity of the mining and energy sector means that resources will continue to play an important part in Australia’s overall export profile, more recently, improving competitiveness and strong external demand have encouraged a marked increase in both the value and volume of exports of services.
Australia’s Trade and Investment Minister, Andrew Robb, has officially launched the A$8.5 million Australian Tropical Medicine Commercialisation Grants Programme (ATMCGP).
The launch took place during the Tropical Medicine Investment session on November 8 at the Northern Australian Investment Forum in Darwin.
The ATMCGP is designed to assist Australian research institutions and biotech companies to attract foreign investment into their development of new therapeutics, vaccines and diagnostics for tropical diseases, such as malaria, Dengue Fever and tuberculosis.
New appointments to the Tourism Australia Board of Directors were announced today by Minister for Trade and Investment Andrew Robb and Minister for Tourism and International Education Senator Richard Colbeck.
Kate Vale, Francis Wong and Hayley Baillie will join the Tourism Australia Board of Directors for a period of three years and current Director Brett Godfrey will step into the Deputy Chair position.
Mr Robb said Tourism Australia is the country’s premier tourism marketing organisation and promotes our high quality tourism offering to travellers around the world.
New opportunities for Australian suppliers in aged care, health and seniors living in China will be presented at the first Australia-China International Aged Care Summit in Beijing on November 16 and 17.
Demand in China for these services is very high due to an ageing population, growing affluence and increasing life expectancy.
Chuyang Liu, Austrade’s Trade Commissioner in Beijing responsible for international health and aged care, said the seniors living industry in China could not meet current demand on its own.
“There are great opportunities for Australian suppliers who can offer world-class products, services and expertise to help China meet the challenge.
Despite a record number of IPOs and a robust mergers and acquisitions (M&A) market, the global medtech industry continues to face tepid growth and a dwindling pool of investors for early-stage companies. These challenges, highlighted in the 2015 edition of EY's annual medical technology industry report,Pulse of the industry, raise important questions about the long-term sustainability of the sector.
Among the key global findings:
The survey of 1,755 organisations, including more than 60 from Australia, explored four major categories of potential attack sources and found that participants identified the most likely source as criminal syndicates (78%), followed by hacktivists (65%), employees (55%) and state sponsored groups (48%).
Compared with their global counterparts, Australian organisations saw the risk as greater in each of the key categories.
EY Oceania Cyber Leader Richard Watson said 80% of organisations do not believe their information security structure fully meets their organisation’s needs.
“Nearly half of respondents said their budgets needed to nearly double to align their organisation’s need for protection with its managements’ tolerance for risk.
With a market capitalisation of some A$1 billion, the Shenzhen Stock Exchange-listed Delisi is one of China’s largest meat processors.
Bindaree Beef, established over 60 years ago as a family farm in northern New South Wales, has now become one of Australia’s largest meat processors, with a plant in Inverell that has the capacity to process 1,300 cattle a day.
The Ministry of Health in Saudi Arabia will provide 20,000 health scholarships during the next five years, covering a wide spectrum of specialities in the nursing, allied health and medicine fields.
10 Nov 2015
The Philippine market for Australian education is diversifying, and education agents are becoming more competitive with their marketing activities.
10 Nov 2015
Analysis of Australian student visa applications lodged outside Australia by citizens of People’s Republic of China who were born in the People’s Republic of China, based on data supplied by the Department of Immigration and Border Protection (DIBP), provides insight into the geographic origin of visa applicants from 2009–10 to 2013–14.
10 Nov 2015
10 November 2015: Deloitte Australia announced today it has joined forces with the team at Cloud Solutions Group (CSG), a specialist Systems Integrator and Cloud Consulting firm.
Deloitte’s technology consulting team offers specific business and technology solutions which help clients move to next generation technologies, such as virtualised and cloud infrastructure.
Josh Rubens, CEO of Cloud Solutions Group, will become a Deloitte partner, with other CSG directors and staff joining Deloitte in Melbourne.
Kevin Russo, Technology Consulting Partner at Deloitte, said this transaction is an important building block for Deloitte Consulting’s technology practice, as according to Forrester the cloud market in Australia will grow to $3.2bn by 2020, up from $732m in 2011.
Global technology giant IBM has opened a Watson Client Experience Centre in Melbourne, the first in Australia. One of six that IBM plans to open around the world, this centre will give businesses and organisations the chance to explore the group’s ground-breaking cognitive computing technology.
IBM has reportedly invested a billion dollars in cognitive technology and its adoption.
Trade and Investment Minister Andrew Robb says Australian businesses are another step closer to realising the enormous opportunities created by the Free Trade Agreement with China, after implementing legislation passed the Senate today.
“The Government has worked hard to ensure this high-quality agreement with our biggest trading partner enters into force before the end of the year, and today’s vote marks a significant milestone in that process,” Mr Robb said.
“Entry into force this year will see an immediate round of tariff cuts, followed by a second round of cuts on 1 January 2016, allowing the benefits of the agreement with China to flow quickly through to Australian exporters and consumers.”
The usual way we look at Australia’s exports and export markets is through the prism of the value (and, less often, volume) of exports sold. So, for example, this DFAT ranking of Australia’s top 15 export markets in 2014 (scroll down to below the top two-way trading partner ranking to find it) shows the by-now familiar dominance of the three big Northeast Asian markets in our export profile, with China in first place followed by Japan and then Korea.
Tasmania’s Saffire Freycinet has again been recognised among the best accommodation experiences in the world, further promoting Tasmania as a high quality tourism destination.
Senator Richard Colbeck, Minister for Tourism and International Education, congratulated Saffire Freycinet for winning the World’s Best Relaxation Retreat at the Boutique Hotel Awards this week.
“Saffire is a luxury hotel that was designed by award-winning Tasmanian architect Robert Morris Nunn and constructed by Tasmanian company Fairbrother – it is a great example of Tasmania holding its own among the world’s most prestigious hotels.
“This latest accolade follows Saffire being named the Best Overall Boutique Hotel in the world at last year’s awards.
Trade Winds is a weekly round-up from the Economics team at Austrade that brings together a selection of news, analysis and trends from around the globe relevant to Australia’s trade and investment interests.
Minister for Agriculture and Water Resources, Barnaby Joyce, and Victorian Minister for Environment, Climate Change and Water, Lisa Neville, today announced a further $14.25 million would be made available for irrigation infrastructure upgrades under Round Two of the Victorian Farm Modernisation Project (VFMP).
Minister Joyce said the new round of funding would be used to upgrade irrigation infrastructure on approximately 60 farms in the Goulburn Murray Irrigation District—increasing efficiency and flexibility in water use on-farm and delivering environmental benefits.
Minister for Agriculture and Water Resources, Barnaby Joyce, together with Assistant Minister for Agriculture and Water Resources, Senator Anne Ruston, and SA Minister for Water and the River Murray, Ian Hunter, are encouraging irrigators in South Australia to apply for a share in $50 million to modernise irrigation infrastructure and return water savings to the River Murray.
In Renmark today with Minister Ruston meeting with irrigators, Minister Joyce announced that the third round of the successful South Australian River Murray Sustainability Irrigation Industry Improvement Programme (SARMS-3IP) would open for applications on 16 November.
Africa, home to the world’s largest source of untapped natural resources, remains a lure for the mining sector, despite the region’s current challenges.
Global demand, principally from India and China, and Africa’s high quality and sizeable reserves of mineral and hydrocarbon energy resources, are driving trade and investment across the region.
These opportunities are veiled by the perception that risks outweigh the benefits. Poor timing and infrastructure shortages are often cited by Australian investors as reasons not to explore mining and infrastructure opportunities on the continent.
Minister for Agriculture and Water Resources, Barnaby Joyce, will be meeting with irrigators and other stakeholders across the Basin this week, in Renmark, Warracknabeal, Mildura, Broken Hill and St George.
Minister Joyce said he would be taking the opportunity to hear first-hand from both irrigators and dryland farmers about the issues that mattered to them.
"Having lived in the Basin all my working life from Danglemah to Moree to Charleville to St George and now Tamworth—I hope I can bring some practical experience to bear in doing the best job possible in what is a very complex policy area," Minister Joyce said.
5 November 2015: Following consecutive quarters of strong increases in optimism, confidence appears to have plateaued among Australia’s Chief Financial Officers (CFOs).
Deloitte’s latest CFO Survey, covering Q3 2015, has identified the shift in sentiment on the back of concerns about China, and in spite of the positive influences of record low interest rates and a more favourable exchange rate.
Key survey findings include:
Australian vegetable exporters to Japan are reaping early gains since the Japan-Australia Economic Partnership Agreement (JAEPA) entered into force on 15 January 2015.
JAEPA eliminates or reduces barriers to trade in goods between Japan and Australia, including tariff eliminations or reductions that have been a key impediment until now.
Recognised as the most liberalising trade agreement Japan has ever concluded, JAEPA is delivering substantial benefits for the Australian economy and enhancing business with Japan – Australia’s second largest trading partner.
The second round of tariff reductions under JAEPA, in force since 1 April 2015, is providing significant business opportunities for Australian exporters to Japan.
I am here in the heart of Greville Street in Melbourne which is the shopping mecca of Australia to launch the national campaign for Shop Small. We are encouraging all Australians to get out there and support small business because when you back small business, small business backs you. The Government is backing small business with a 1.5 per cent cut in the company tax rate and a 5 per cent discount for unincorporated corporations. For those small businesses who want to invest in new assets there is now a $20,000 instant asset write off for those people making purchases up until the first of July 2017.