The tragic events of 11 September emphasised
the vital role to be played by business and trade.

The economic effects following the tragic events of 11 September have been felt by all members of the business community around the world. That day marked a significant turning point in the way the global community confronts this modern threat to stability, and emphasised the vital role which business and trade have in defeating terrorism.

Today the UK and Australia stand together as allies and partners in the global community with a shared determination to help strengthen economic confidence and prosperity. Australia’s recent economic reforms are helping develop a more dynamic and competitive economy. And both Australia and Britain were part of the historic deal in Doha where Trade Ministers from around the world agreed on the launch of a new round of world trade negotiations.

The culture and values we share have helped establish the foundations of our partnership. The importance of business collaboration for the benefit of both our nations cannot be overstated. In particular, we must continue to work together to harness developments in new technology.

Nowhere are the ties between our nations more evident than in the interdependent flows of trade and investment. The UK pumps over £65bn into the Australian economy, making it the second largest direct investor in Australia; and the UK is the second largest destination for Australian investors. Our £7bn trading relationship opens doors for many different businesses, beyond our national borders. Australian companies in the UK gain access to the European market, and Australia is an important base for UK companies to move into the Asia-Pacific region.

Our partnership in the global community is vital in building the economic confidence and prosperity we all desire for the years ahead.