PRIME MINISTER
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YOSTERS-HUAGUANG PCKDATIMCW S7voE-LYMING
SH& NGI SLVM&, 26 JUNE 1993
This ceremony to lay the foundation stone for the Fosters
Shanghai Brewery might be taken as a symbol of
Australia's commercial response to the opportunities and
challenges on offer in Asia.
It is another significant chapter in what is a genuinely
good news story.
It is good news for the two joint venturers:
Huaguang Brewery vill. benefit from their
relationship with one of the world's foremost
brewery operations, the Fosters Brewery Group, and
in particular Carlton and United Breweries.
And Fosters, which is now a truly international
company operating on four continents, have by their
enterprise won a foothold in a very significant
market. Within five years, it could well be
producing as imuch beer in China as it does in
Australia.
This is also a good news story for Australia and for
China. For Australia, because we see one of our companies making
a major investment and a long term commitment in one of
the fastest growing countries in the world.
And for China, because we're seeing world class
technology and quality international backing linking up
with a Chinese partner to meet a market-driven need.
What we are seeing here is a quality international
response to China's new economic policy.
Australia's new economic policy too: because Australia
is encouraging companies to be internationally
competitive, to get out in the world and compete with the
best, and to look to Asia as a place to invest.
Joint ventures like this are good for Australia because
the reord shows that trade invariably follows
investment.
And it is trade and investment linkages of this kind that
will guarantee our share of the economic growth in the
region. So Fosters must be comiended.
And the Huaguang Brewery must be commended: it has
forged a partnership with a company that is not only at
the leading edge of its field, but an internationally
recognised Australian icon.
We look forward with a fair degree of certainty to the
day when Shanghai Fosters is a Chinese icon as well.
All of you deserve our congratulations and I wish you
all the very best in this most significant joint venture,
Shanghai Posters Brewery Limited.