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Economic Cooperation

 

Economic Cooperation

THE AUSTRALIAN ECONOMIC OUTLOOK 

Australia is a country rich in natural resources and characterized by a high economic drive, thanks to the export of raw materials and the increasing integration with the emerging asian economies.

Australia is now the twelfth economy in the world and is also in its twenty-third consecutive year of economic growth, it has recorded for some time economic growth rates above the average of the OCSE economies.

The strength of the Australian economy is moreover confirmed by the limited impact the recent global financial and economic crisis has had on the economy.

Australia is located in the center of the Asia-Pacific region which is the most vibrant area with the highest rates of economic growth worldwide.

Furthermore, Australia is a country open to international trade. As a matter of fact, starting from the 80’s, Australia has adopted significant reforms including the elimination of the tax regime and the development of the financial and banking sector as well as that of numerous privatizations, which have gradually led to a greater deregulation of the economy.

Especially in recent years, there have been substantial launches of investment programs, particularly in the infrastructure sector.

We, therefore, envisage significant opportunities for Italian companies.

In this regard, the inter-change data is encouraging; showing a continued growth mainly driven by Italian exports.

In 2013, the interchange amounted to 4.9 billion Euro, Italian exports in particular reached a record high of 3.7 billion Euros.

More than 150 companies operate in Australia and there are excellent prospects to further strengthen the economic-commercial relations especially in certain sectors; these being machinery defense, infrastructure, energy, mining, agriculture and the consumer goods of high and medium quality sector.

The reciprocal flow of investments is still modest and should be strengthened.

For more information please visit InfomercatiEsteri, the new portal for exporters and investors. For export issues, please contact the Italian Trade Agency Office in Sydney (sydney@ice.it).

 


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