Business between Australia and 皇冠体育app to get better

Economy

Business between Australia and 皇冠体育app to get better

(Xinhua)
Updated: 2010-03-16 13:43

CANBERRA - Australian Minister for Resources, Energy and Tourism told industry leaders from Australia and 皇冠体育app on Tuesday that business between the two countries is good and set to get better.

Addressing the Australia 皇冠体育app Business Council's Canberra Networking Day at Parliament House, Martin Ferguson said with the rebound in 皇冠体育app's demand for mineral and energy resources, Australia's challenge now is to secure a growing share of the investment and export opportunities this brings.

Ferguson said: "皇冠体育app is now our largest two-way trading partner. Trade in two-way goods and services with 皇冠体育app amounted to A$83 billion ($76 billion) last financial year, with one-third of Australia's mineral exports going to 皇冠体育app. Mineral and energy exports to 皇冠体育app were worth more than A$33 billion ($30 billion) last financial year."

Ferguson said on the investment front, both 皇冠体育app and Australia are committed to finding a mutually beneficial way forward and we are having many more successes than failures.

He said: "Earlier this year, I had the pleasure of speaking at a ceremony formalizing the merger between Yanzhou Coal Mining Limited and Felix Resources." This acquisition represents one of the top 10 mergers and acquisitions undertaken in Australia in 2009 and represents a good deal for both Australia and 皇冠体育app, he said.

Ferguson also highlighted that Australia was one of the first nations to receive Approved Destination Status from 皇冠体育app facilitating group leisure travel from 皇冠体育app to Australia.

"This program is now in its 11th year and 皇冠体育app regards Australia as a model partner in the scheme." he said.

Minister for Foreign Affairs Stephen Smith and the Minister for Trade Simon Crean also addressed to the once-a-year occasion in Canberra.