ADDRESS BY THE PRIME MINISTER, THE HON P J K] EATING MP
OPENING OF THE AUSTRALIAN BUSINESS CENTRE, TOKYO
THURSDAY, 25 MAY 1995
1 am very honoured that Mr Toyosbirna Chairman of JETRO, is
present today on the opening of this Australian Business Centre.
9 The Centre brings together in one location Australias
Commonwealth and State official export, investment and tourism
promotion bodies.
0 The Centre is the first of its kind for Australia
and it is fitting that it should be established in the capital of our
greatest trading partner.
It reflects our recognition of the continued importance of our economic
relationship and confidence in its future.
a And, it shows our determination to work hard in this market, to
diversify the base of our trade, to support long-standing business
relationships and to help new ones get established.
a Between 1990 and 1993 Australias exports of goods and services to
Japan grew by nearly 20 per cent in Australian dollar terms and by
over 4 per cent in US dollar terms
in either measure the growth in our exports exceeded the growth
in Japan's total imports of goods and services.
Our highest value-added exports ( ETMS) grew at a trend rate of just
over 11 per cent in the five year period to 1993-94.
And our export of services for the five year period to 1992-93 grew at
a rate of just under 12 per cent.
Japanese figures for Japan's 1994 financial year say imports from
Australia grew by 11 per cent over 1993.
But there is no doubt we could and should do a lot better, The
Government can help: with initiatives of this kind, with Austrade and,
most importantly, by creating a competitive economic climate and one
favourable to exporters. But in the final analysis its success depends
on Australian business.
The scale of Japan's economy needs to be understood by Australian
exporters a one per cent growth in Japan's GDP increases Japan's economy
by the size of New Zealand's GDP
a small slice of a Japanese sectoral market, like housing or food,
can be worth many times more than a large slice of the market in
other countries.
There is no question about the opportunities which exist in the
emerging markets but no Australian exporter should ignore the
rewards of succeeding in Japan.
And it should also be understood that, while Japan's market is difficult,
it is opening up more and more
we must take advantage of the inevitable changes which are
taking place in the structure of the Japanese economy, which are
being speeded up by the appreciation of the yen.
The lesson for Australia is that our opportunities are growing faster
than perhaps many understand
tme competition will be hot. There are no easy pickings. But the
proof is there that competitive and determined Austalian
businesses do succeed.
This Centre represents a further important step in focussing Australia's
marketing efforts in Japan
three years ago Australia opened four consulates throughout
Japan to service Japan's regional economies
we are now opening for business in the very centre of Tokyo,
making access for businessmen and tourists much easier as we
approach the Olympics in Sydney in the year 2000.
This centre also demonstrates the Commonwealth government's
determination to work closely with the Australian states to promote
Australia abroad.
I would like to congratulate all the centre's members and wish them
well in this important venture.
It gives me great pleasure to declare the centre open.
ENDS