Investment focus of visit to the United States
10 January 2014
Encouraging investment and tourism will be the focus of a visit to the West Coast of the United States by Trade and Investment Minister, Andrew Robb.
"The United States is our key economic partner country with two-way investment exceeding $1 trillion in 2012 while California alone is the world's eighth largest economy and I look forward to meeting with capital markets' representatives and companies seeking to expand into Australia to achieve further Foreign Direct Investment in Australia," Mr Robb said.
Mr Robb will also make keynote addresses to G'Day USA events including:
- A Tourism Australia summit in Los Angeles
- The US-Australian Dialogue on Water in Los Angeles
- The US-Australian Dialogue: Partners in the Asia-Pacific, in Los Angeles; and
- The Innovation and Digital Economy event in San Francisco.
The Tourism Summit, hosted by Tourism Australia, will highlight opportunities in Australia for US tourism companies and help create partnerships towards achieving the Tourism 2020 goal of increasing overnight visitor expenditure to $115-$140 billion by 2020.
The United States is an important market for Australian tourism, with arrivals from the United States increasing six per cent in the year ending June 2013. "Tourism 2020 estimates the North America market, including the US and Canada, will be worth over $5 billion to our tourism industry by 2020," Mr Robb said.
The Minister will also launch the 2014 Austrade Benchmark Report.
"Strong economic fundamentals, combined with our proximity and experience in working with the high growth Asian nations, make Australia an excellent place to do business. Our educated, multicultural and multi-lingual workforce, world class research institutions and generous R&D tax incentives make Australia an attractive investment destination," Mr Robb said.
G'Day USA is a high profile annual series of events which showcases Australian innovation, technology, products and business capabilities in major cities across the United States. Over 200 Australian companies and more than 450 US companies participate each year.
- Trade Minister's Office: (02) 6277 7420
- DFAT Media Liaison: (02) 6261 1555