G'Day UK 2009

Commuters passing along the River Thames this morning were greeted by scenes more reminiscent of Sydney than London with the installation of pristine white sand beach to celebrate a new business initiative from Australia called G’dayUK.

G’dayUK will run from 24th – 30th June, highlighting the unique range of skills, resources and investment opportunities offered by Australia. This heavy-weight burst of activity will reinforce business partnerships in four main sectors:
• Trade & Investment
• Food & wine
• Migration
• Tourism

G’dayUK takes place on the back of news earlier this month that first-quarter GDP growth figures indicated the Australian economy grew by 0.4% in the March quarter, after contracting by 0.6% in the preceding quarter, therefore technically avoiding a recession. This surprise bounce in growth makes Australia one of the best performing economies in the developed world at this current time.

The UK is the second largest source of investment into Australia after the US and the UK is Australia’s second largest destination of FDI, with about AUS$30billion being invested in 2007. Approximately 1,500 Australian companies are active in the UK, with a large number using it as a base for continental Europe, and so the trade relationship between the two nations of great significance.

The highlight of G’dayUK is a CEO Forum for Australian and UK business leaders focusing on four areas:
• Financial Services
• Resources/FDI
• Climate Change
• Olympics - 2012 & Beyond

With Australian banks making up 4 of the world's 12 major banks still retaining their AA credit rating due to a solid regulatory framework, and the federal government announcing in April more than AUS$20 billion of new clean energy investment, Australia certainly has something to contribute to the debate.

Commenting on the event, Philip Aiken, Chairman of G’dayUK said: "The G'dayUK CEO Forum will bring business leaders together from ‘down under’ and ‘up here’ to share ideas and current trends in business, finance and climate change in the most challenging economic environment for a century”.
-ends-
24 June 2009

Notes to editors:
About the Australia/UK relationship:
Key Australian investors in the UK include: Westfield, Telstra, Sinclair Knight, Worley Parsons, Macquarie,
National Australia Group (with Clydesdale Bank, Yorkshire Bank and Northern Bank), AMCOR, Lend Lease,
Ramsay Health UK, Westpac, the Commonwealth Bank, ANZ, Cochlear, ResMed, CSL, Boral, and dual
listed companies GKN Brambles, Rio Tinto, and BHP Billiton.

• Australia's population is less than half a % of the global total, yet its economy ranks amongst the largest in the world
• Among countries with a population of 20million or more, Australia ranked as the 2nd most competitive economy in the world after the US in 2008. (Source:IMD, World Competitiveness Yearbook 2008)
• Australia’s solid regulatory and governance frameworks underpin a strong banking sector
• Australian banks also make up 4 of the world's 12 major banks that still retain an AA credit rating. The big four banks are also on the list of the 50 safest banks in 2009 according to Global Finance magazine Feb 25 2009.
• Australia has been ranked as the 3rd fastest place in the world to start a business (Source: The World Bank Doing Business 2009).
• Patent and copyright enforcement regime is ranked second in the Asia-Pacific and above major developed countries such as the UK, Japan, Ireland, Finland and HK (Source: Ibid)
• Australia's cost of living is lower than many other countries including the UK, US, Germany, Japan and Singapore.
• Australia has abundant supplies of resources and is a major producer of minerals & energy. There are roughly 400 mines across Australia, or which almost half are in WA.
• Rural products comprise 11% of Australia's total exports. Australia is the world's largest wool producer - yet only 6.55% of Australia's land is arable.
• Australia is one of the most diverse landmasses on the planet and has about 9% of the world’s plants and animals. It is home to over half a million species of plants and animals, many of which are found nowhere else in the world.

About G’Day UK:
Planned for 24 June – 30 June 2009 and supported by the New South Wales, Queensland, Victorian, South Australian and Western Australian State Governments, Austrade, Qantas and Tourism Australia in conjunction with the Department of Foreign Affairs and Trade, Wine Australia, Australian Business and key private sector sponsors.

For further information please visit www.gday-uk.co.uk
Ann Burton, CUBE Communications; Tel: 020 8401 5506 Email: ann@gday-uk.co.uk