MEDIA RELEASE

FORMATION OF NEW CALEDONIA AUSTRALIA BUSINESS COUNCIL

The President of the Australia Pacific Islands Business Council, John Ridgway, has warmly welcomed the inaugural General Meeting on 4 December 2003 in Noumea of the Cercle d’Affaires Australie – Nouvelle Caledonia (Australia – New Caledonia Business Council).

Mr Ridgway said the APIBC had over the last year been working with the founders of CAANC to assist with its establishments, and looked forward to continuing to work closely together to promote and expand Australian-New Caledonia business relations.

Mr Ridgway said the formation of CAANC followed the visit to New Caledonia in March 2002 by the Australia Trade Minister, Mr Vaile, and the signing of the Trade and Economic Relations Arrangement. The Arrangement provides a framework for expanding bilateral trade and investment flows.

“Trade relations between Australian and New Caledonia have been expanding rapidly over the last decade, and the time is ripe for further growth”, Mr Ridgway said.

CAANC will provide a key contact group for networking opportunities between Australian and New Caledonian businesses. It will increase awareness in trade relations and can provide a valuable source of input for Australian companies investigating trade opportunities.

New Caledonia is Australia's fourth largest Pacific market (after New Zealand, PNG, and Fiji).  In 2002, Australian merchandise exports to New Caledonia totalled $253 million.  Australia's market share was around 13.3 per cent, and growing.  In 2002, Australia imported around $49 million of goods from New Caledonia, mostly iron and nickel ores. The Australian Customs tariff allows most New Caledonian goods to enter the Australian market at a reduced tariff rate.

Patrons to the CAANC are Australia’s Consul-General Mrs Denise Fisher, and the Head of the Chamber of Commerce and Industry, Mr Michel Quintard.

BRISBANE

15 December 2003