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2. Australia - Opportunities for British Business
Scott Strain
Director of Trade, Australia and New Zealand
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3. Why Australia?
• You’ll feel at home immediately:
– Over 1,000 UK companies and more Brits than in any other country
– Very similar business, legal and regulatory culture
• Best performing OECD country economically, with good growth prospects
• Strong Australian dollar making UK goods and services more affordable
• Closely linked to fast growing Asia-Pacific nations
• Massive opportunities for UK companies in oil and gas, health, ports,
infrastructure, ICT, education, low carbon, financial and business services
• Economic webinar on 5 December or read our latest economic briefing
* ONS Pink Book 2012
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4. Australia – an economic snapshot
Australia UK
Population 22.5 million 62 million
Global GDP ranking 13th 7th
GDP growth est. 2012 3% 0.6%
GDP per capita ($US 2011) $40,800 $36,600
Ease of doing business (World Bank 2011) 15th 4th
Unemployment (Sept 2012) 5.1% 8%
Land mass – sq kms 7 692 000 000 295 000
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5. UK/Australia trade links
• UK exports to Australia grew by
over 60% from 2007 - 2011 (to
more than £10 billion)
• UK’s overall exports contracted
first half of 2012, to Australia rose
• 7th biggest market for services
exports and 18th largest for goods
• UK is 2nd biggest foreign direct
investor in Australia
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6. Australia – UK’s top export sectors
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7. Australian opportunities: low carbon
• Ratified Kyoto protocol in 2007 and
introduced a price on carbon on July 1
2012
• Needs to double renewable energy use
by 2020 to meet legally binding
Renewable Energy Target (RET)
• Recently announced it will link its new
carbon price to the EU carbon trading
scheme by 2018
• Webinar on Low Carbon Opportunities FreeDigitalPhotos.net
on 26 Sept @ 9.30am, contact
eleanor.ashton@fco.gov.uk
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8. Australian opportunities: e-commerce
• Australians spent around £7 billion
online in 2011
• Online sales grew 90% from 2010 to
2011
• Opportunities in sporting and outdoor
goods, cosmetics and beauty
products, books, media and fashion
• Goods under $1,000 bought overseas
do not attract 10% GST
• Webinar on 4 October at 9.30am,
contact Richard.Harper@fco.gov.uk
FreeDigitalPhotos.net
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9. Australian opportunities: healthcare
• Rated as the best Healthcare
market in the Asia Pacific region for
doing business
• Australian healthcare industry
currently generates revenue of
A$92 billion (£57 billion) per year
• Forecast to rise to A$113 billion
(£70 billion) within five years
• Healthcare webinar on 18th October
or contact joe.dodd@fco.gov.uk or
read our healthcare sector briefing FreeDigitalPhotos.net
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10. Australian opportunities: ports
• 99% of Australia’s exports by sea
• High demand for Australian FreeDigitalPhotos.net
resources (particularly commodities)
has driven large ports investment
• £100 billion investment needed into
new logistical infrastructure
• Read more about opportunities in
the Australian ports sector
• Webinar on 22 November
• Contact antonia.yendell@fco.gov.uk
for more information
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11. Australian opportunities: oil and gas
• UKTI estimates £85bn invested in
Australian O&G in 2012
• Designated as UKTI High Value
Opportunity for 2012
• Australian upstream oil and gas
industry expected to grow at two to
three times the rate of the economy
for at least the next 15 years.
• Read more in
the oil and gas sector briefing
• UKTI Webinar on 25 October @
9.30am
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12. Australian opportunities: financial services
• Emerged from the global financial crisis
relatively intact
• Finance and insurance is the largest
sector in the Australian economy, worth
more than £83 billion in 2011
• Australia has world’s fourth largest asset
pool due to ‘superranuation’. Assets
reached approx £900 billion June 2011
• Contact melena.dirou@fco.gov.uk for
more information FreeDigitalPhotos.net
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13. Australian opportunities: ICT
• ICT contributes 4.6 % of Australia’s GDP
(AU $82 billion) IBSA Dec 2010
• Building v fast broadband network to
cover 95% of population (in 8-10 yrs)
– At A$35.7 billion it’s the most expensive
infrastructure project in Australia’s history
• Opportunities in e-Health, e-Learning,
digital entertainment, e-commerce for
mobile
• Internet usage in Australia is 90%
penetration (5th best in the world)
FreeDigitalPhotos.net
• Contact Jim.Thompson@fco.gov.uk for
more information
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14. How can UKTI Australia help British companies?
• Find local contacts to help your
business grow
• Help you attend trade fairs and
missions
• Carry out in-depth research on the
market to your specifications
• Product launches and PR and
marketing support
• Whatever you need to succeed in FreeDigitalPhotos.net
the market!
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15. What next?
• Ask questions at the end of this
webinar or
follow the conversation on LinkedIn
• Keep in touch with the latest Australian
business opportunities
• Attend our industry specific webinars
• Follow us on twitter @uktiaustralia
• Get in touch with me
scott.strain@fco.gov.uk FreeDigitalPhotos.net
• Now introducing ‘Your Australian
Business’
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