Release Date: May 07, 2012Contact: 888-249-NEWS
U.S. Chamber’s Australia Working Group Launches Investors Mission to Sydney and Canberra
WASHINGTON, D.C.—The U.S. Chamber of Commerce’s Australia Working Group today launched a four-day business mission to Sydney and Canberra. The mission includes leading U.S. investors in Australia and will emphasize the tremendous bilateral economic and commercial opportunities, and how those opportunities are enhanced through well-defined public policies.
“Australia and the United States have a vibrant and growing commercial relationship,” said Tami Overby, vice president for Asia at the U.S. Chamber. “The Working Group was created because we believe there is great opportunity for Australia and the United States to work jointly for trade and investment liberalization in the broader Asia-Pacific, whether through the TPP, APEC, or other forums.”
The Australia Working Group was launched earlier this year, in order to promote and enhance the overall relationship while encouraging Australian legislators to ensure ‘certainty’ through public policy. Trade and investment ties between the United States and Australia are substantial. Two-way trade in goods and services last year stood at $55 billion. The U.S. direct investment position in Australia is $133 billion, while Australia’s direct investment in the United States is $49 billion.
“We have appreciated the positive working relationship enjoyed with our Australian colleagues.” Overby said. “In particular, the personal support lent to this effort by Kim Beazley, Australia’s Ambassador to the United States, and Jeffrey Bleich, the United States’ Ambassador to Australia, has been crucial to the Working Group’s success.”
During the mission, the Working Group will meet with government and business leaders, industry associations, academic specialists, and others. The companies participating in the mission include Accuray, Chevron, Citigroup, ConocoPhillips, Digital Realty, Dow, Peabody Energy, TimeWarner, and URS.
The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.