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UK delegation to explore Australian market

UK delegation to explore Australian market article image
UK delegates from 21 companies in the South West region will make the annual trek to Australia next week to explore new business opportunities, following closely on a visit by Sir Andrew Cahn, CEO of UK Trade & Investment (UKTI). Cahn dispelled a few myths about the UK's economy, pointing to its solid economic growth in this year's June quarter as well as falls in unemployment and an encouraging 15.5 percent hike in exports. According to UKTI, the UK is the second largest investor in Australia with $24.3 billion on our shores. It is also Australia’s fifth largest trading partner, worth almost $500 billion. The strong Australian economy is also a factor in the UK's increasing interest, said Richard Morris, British Consul-General and Director-General of UKTI Australasia. "Many British companies are looking at the Australian market right now because of Australia's continued strong economic performance, with 1.2 percent growth in the June quarter, and the competitive exchange rate," he said. "At UKTI Australia, we've never been busier and this surge in business should be beneficial to both of our economies." The delegation will meet with Westpac Banking Corporation for a business and economic briefing on the Australian market and Curwoods Lawyers for an Australian legal and accounting briefing.

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