As a prelude to the Asian Financial Forum in Kong Kong, the Invest in Australia mission delegates were fortunate to have Australian Assistant Treasurer Josh Frydenberg join us for drinks at the Hong Kong Club on Sunday 18 January 2015. The Assistant Treasurer is participating in the forum for the next 2 days before attending the Davos Economic Forum in Switzerland (hope he has some extra francs!) and then meeting with various regulators in London.
Key points from his presentation to the mission were:
- Australia has had 23 years on economic growth. The expectation is that this will continue for at least another decade.
- In addition to the conclusion of Free Trade Agreements with China, Japan and South Korea, there is an expectation that a FTA will be signed also with India later this year.
- The government recognises the importance of tax reform and the removal of red and green tape to make it easier to do business.
- Australia's $1.8 trillion and growing superannuation savings recognise a large source of potential capital and emphasise Australia's opportunity as a financial services hub.
- The government is keen to receive good ideas on how the challenges may be addressed as this is a collaborative partnership.
We appreciated the Assistant Treasurer's time in a busy schedule and look forward to hearing him speak at the Asian Financial forum.
PB
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