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INEI KING POINTS THE HON P J KEATING MP AUSTRALIANRMAN
ASSOCIATION, ' PARTNERSHIP 2000' TRADE AND
rESTMENT CONFERENCE, THURSDAY 5 OCTOBER 1995
It is a great pleasure to join you for this conference and to welcome this
senior German business group to Australia and particularly. to welcome the
German Posts and Telecommunications Minister Dr Boetsch as its leader.
S I promised'Chancellor Kohl when we met in March that I would come
personally to this conference as a means of underlining the importance I
attach to building stronger tics between Germany and Australia business
and investment ties, of course, but not only those. Earlier this week I was in
Sbuth Australia, which has a long historical link with Germany and German
culture. I was there in part for the re-opening of the magnificent Palm
House at the Botanic Garden, designed by Gustav Runge and manufactured
S in Bremen listening to the Stuttgart Chamber Philharmonic and reflecting
on all the things Australia has drawn from Germany. I am glad the cultural
flow is not all one way. The Sydney Symphony Orchestra has just completed
a very successful tour of Germany. My wife Annita had the opportunity to
be with them, including at a concert given to a very large and enthusiastic
audience at Christian Georgi's Bremer WoUlkammerei.
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i~ In Germany earlier this year I hadtwo particular messages I wanted to get
across and I want to repeat them today,
S First, is my conviction that Australian business people need to do more in
Europe, and that if we are to. maximise the opportunities available to us there,
we have to look beyond the English Channel this is not to downplay our
economic links with Britain, but to recognise that there is much more to
Europe than is covered by the route map of the London Underground: and,
above all, that means Germany, which accounts for almost one quarter of
European GDP, is the world's third largest economy and its second largest
xporter and importer.
, There is no doubt that our trade and investment relationship with Germany
falls short of its potential. Germany is our seventh largest trading partner,
with two-way trade around $ 6 billion, but only our 15th largest export
madka. andoor exports have been falling so there is clearly much more for
Aintahin innss to do on that front and I hope thi conlr e helps
PRIME MINISTER
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The investment relationship is in better shape. Germany is our 9th larpst
source of foreign investment, and more than 200 subsidiaries of German
companies operate in Australia. They represent some of our most respected
companies. In the other direction, Australian companies like Boral, Pioneer,
Brambles, TNT, ANIand AMCOR are active in Germany but here again
you can't help feeling that there is more of mutual benefit to squeeze from the
relationship than we have yet managed.
I hope our German visitors will have the opportunity to see some of the gicat
economic, and social strengths of this country a highly skilled Workforce,
with a strong emphasis on training, lessons we have drawn directly from
Germany's experience a deep pure research base an economy which puts
a. premium on growth, and which has now delivered growth for 16
consecutive quarters, and which is becoming more international ( exports
havec nearly doubled as a share of GDP since the early 1980s) and more
competitive ( international competitiveness increased by 36 between 1983
4nd 1995)
9. 9 The other major point I want to get'across is that there is no contradiction or
tension between the Australian Government's determination to integrate
Australia more deeply into the Asia Pacific and our desire to strengthen our
tics with countries like Germany -: in fact, the reverse is true: Australia's
engagement with Asia makes us much-more, not less, relevant to Europe a
prosperous Australian economy which is integrated into the region around us,
using all the resources of our multicultural society, has much more to offer to
Germany and other European countries, as a direct trade and investment
partner, as an investment base into Asia, and in cooperative activities in third
markets we have already seen successful German Australian investment
" partnershipsi n Asia like the Leighton-AEG venture to construct the Hong
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" t is very good, to have Dr Boetsc, hleading this mission because
telecommunications and information technology offer huge potential for this
sort of co-operation telecommunications equipment is already one of the
fastest growing components of our bilateral trade and in the wider Asia
. Ptcific region, expenditure on-telecommunications services and equipment is
expected to reach nearly $ 300 billion by' 2010.
. m The reason for the timing of my visit to Germany earlier this year was to
attend CeBIT, in which Australia had been invited to participate as a partner
country. This. was an honour for us, but it was a reflection of what has been
happening in Australia in this area our long history of technological
S. excellence in telecommunications broad band networks expanding across
the country world's heaviest per capita users of the Internet and second
highest per capita users of personal computers.
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So this area, again, offers great opportunities for both Of us hope Australian
if and telecommunications companies will -use the success of CeBIT this
year as a base to build on at, next year% exhibition.
Congratulations to the Australian-Germani Association especially -Mr
Tretbowan and Dr Rohkamm, President of the German counterpart
organisation, on their work to set up this conferece I wish you every
success with it.