PRIME MINISTER
STATEMENT BY THE PRIME MINISTER, THE HON P. J KEATING MP
THE ECONOMIST ROUNDTABLE
Today I met and held discussions with Bill Emmott, the Editor of The
Economist and host of the magazine's Roundtable with the Australian
Government.
The Roundtable consists of a dialogue between Ministers and other
Australian public figures on the one hand, and an audience of senior local
and international business representatives on the other. I shall speak at the
closing session of the Economist's Roundtable on 24 March.
The Roundtable is taking place at a very opportune time. The Australian
economy is recovering strongly from recession, with one of the highest
growth rates in the OECD.
Four factors point to the potential for this growth to be sustainable:
the low inflation rate, and low inflationary expectations;
the increasing coupling of the Australian economy to those of the high
growth countries of the Asia-Pacific region;
the ongoing program of microeconomic reform, which will continue to
raise productivity and the growth potential through the 1990s; and
the continuing diversification of Australia's exports, with rapid growth in
manufacturing and services exports reducing our susceptibility to the
fluctuations of commodity prices.
. These factors,-. together with Australia's advantages as a place to live and
work, make this country an excellent location for international companies
seeking to do business in this region.
2
These themes are developed further in Australia in the World, a publication
released to coincide with the Roundtable. The document contains an
assessment not only of the comprehensive reform program undertaken to
date, but also of the future agenda for economic, political and social
development. CANBERRA
22 March 1994