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Forum shows UK trade relationship still strong

Forum shows UK trade relationship still strong article image

Australian and British business leaders met in London last week to discuss ways of maximising the strong relationship between the two nations and develop new commercial connections. Austrade’s UK senior trade commissioner Kylie Hargreaves said the CPA Australia CEO Forum provided a whole-of-government platform to engage UK and Australian industry leaders. The forum was part of the G'Day UK program, and contained discussions in four key areas: financial services, resources/foreign direct investment (FDI), climate change and 2012 & Beyond. "This engagement is important for both nations with the UK one of our most significant trade and investment partners in Europe. It is also our second largest source of FDI and accounts for over 15 percent of all FDI into Australia," said Hargreaves. "But importantly in a two-way relationship, Australians are investing heavily into the UK too, creating jobs, economic wealth and new intellectual property. In 2008, the UK was our second largest destination for Australian foreign investment stock and more than 1,500 Australian companies have some form of presence in the UK." Hargreaves said the inaugural G’day UK CEO Forum was a further step in cementing the strong economic, political and thought-leadership ties between Australian and the UK.

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