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Trade Message |
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| he Australian Trade Commission (Austrade) is the Australian Government agency that helps Australian companies win overseas business for their products and services. In the case of the Gulf States, Austrade is working to ensure Australian businesses share and contribute to the vibrant economic activity taking place in these rapidly growing economies. On 15th March Australia's Trade Minister Mr Mark Vaile and the United Arab Emirates Economy and Planning Minister, Sheikha Lubna Al Qassimi announced the commencement of negotiations for a bilateral Free Trade Agreement between the two countries. The mutual benefits of trade liberalisation will add to the strong trade ties Australia and the UAE currently enjoy. |  |
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The UAE is Australia's second largest market in the Middle East, and boasts an economy growing at a rate of 5-6 % per year. Trade between the UAE and Australia in 2003-2004 was valued at over A$2 billion and has been increasing by 20% per annum for the past three years. 120 Australian companies are established and operating in the UAE, with over 6000 resident Australian workers. With growth in the region forecast to continue, Austrade is working to foster closer trade ties in the UAE, Oman and Qatar. Tailored, outcome-focused services are provided to Australian businesses to assist in minimising cost, time and risk of developing local markets. In the Region our target sectors include: · Food, beverage and agribusiness · Design, building and construction · Health, and environment sectors · Education services and tourism · Defence industries · IT services and applications · Oil & gas industries · Arts and Entertainment · Sports and Recreation Australian companies have established a significant business presence in the UAE building and construction sector with many prominent new landmarks built with Australian construction expertise. Numbers of students travelling to Australia for tertiary education have seen a significant increase over the past 12 months. Growing interest in Australian education is supported by increasing tourism - also evidenced by an expansion in Emirates Airlines flights to major Australian capital cities. Applications for Australian Visas in 2004, both business and tourist, have increased by over 70%, emphasising the fact that Australia is definitely 'on the menu' in the Middle East. Passenger motor vehicles remain our number one export to the UAE, Oman and Qatar. Australian made Toyota Camry's are a common sight as taxis in the streets of Dubai. Australia enjoys a high level of representation in the UAE with the Consulate General in Dubai, Embassy in Abu Dhabi, and three Australian State Government representative offices. The UAE has become a frequent destination for Australia's political and business leaders with recent visitors including Australian Trade Minister Mark Vaile, Federal Treasurer Peter Costello, and former Prime Minister Bob Hawke, golfing great Greg Norman, and cricketing legend Steve Waugh. This is indicative of the positive relationship and extensive business opportunities available to Australian companies in the UAE and Gulf States. We are delighted to be working closely with ABIG and the many ABIG members whose hard work and good faith underpins such a positive trading relationship. Peter Linford |
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