Australia has one of the most stable economic, political and social environments in the region, which has led to increased inwards investment in recent years and it has a strong economic, trade, cultural and educational tie with Taiwan. The Australian Commerce and Industry Office (ACIO) is set to develop and strengthen the bilateral relationship between Taiwan and Australia and strives to protect the interests of the two sides.
The Representative of ACIO, Ms. Frances. J. Adamson indicated that the main function of ACIO is to demonstrate the interactions between the two countries and to serve the interests for both sides. The ACIO operates with several sections including Business Center, Culture and Media Unit, Consular Services, Education center and Visa Services.
The current trade status between Australia and Taiwan is going well. Ms. Adamson said Taiwan is now Australia's 8th largest export market, and Australia is Taiwan's largest supplier of chilled and frozen beef, lamb and crustaceans, and 2nd largest supplier of imported food and agriculture, and a major exporter of dairy produce, fruit and vegetables, thus, the trade relation between the two sides is very firm.
Trade and Investment
Australia is generating new strengths as a supplier of advanced goods and services. Since 1991 -- 92, exports of elaborately transformed manufactures (ETMs), with high levels of value-adding, have grown at an average annual rate of 10 per cent, well above the growth rate for these products in Japan and Germany. Products such as components for mechanical and electronic equipment, as well as assembled motorcars, have recorded strong growth in the last decade.
Ms. Adamson pointed out that Australia is also developing a new edge in high-technology exports, such as scientific and medical equipment, telecommunications, software and aerospace products to become more competitive in the international market.
Like many sectors of Australia's business community, exporters have benefited considerably from Australia's wide economic structural reform agenda. Barriers to domestic competition have fallen, along with business input costs, in turn generating a more favourable commercial operating environment. Having recognised early the benefits of strong competition, Australia ranks increasingly highly as a successful global trader.
One of the most important factors behind greater efficiency in Australia's economy has been the sharp reduction in Australia's average tariff rates on imports. Australia's average applied tariff rate has halved in the last decade, contributing to lower business input costs and raising the efficiency of local producers.
Foreign investment
Australia recognises that inward foreign investment is a key element in achieving increased living standards and economic prosperity and welcomes foreign investment, subject to legislative guidelines. "Australia draws on foreign capital to assist in the development of competitive industries, thereby creating jobs and increasing exports," said Ms. Adamson.
"Any investors who are interested in doing business in Australia can go consult Invest Australia. It's the Australian Government's investment attraction and facilitation agency, promotes Australia as a competitive investment location," said Ms. Adamson.
With investment specialists in fourteen locations worldwide, it offers a range of services and programs to potential investors such as major project facilitation, immigration assistance, advice on Australia's industry capabilities and strengths, the organisation of site visits, the identification of potential joint venture partners and advice on government industry assistance schemes and possible incentives.
The Australian government provides incentives in certain circumstances - including grants, and infrastructure services. "Our Business Center assists Taiwanese investors by identifying investment opportunities, and providing information and advice on establishment and operating costs, and foreign investment regulations. It connects Taiwanese firms with joint venture partners, strategic allies and so on," Ms. Adamson added.
Today, investment in Australia continues to grow strongly, Taiwanese investors can discover Australia's competitive advantages for themselves.
Education and Culture
Number of Taiwanese students choosing Australia for overseas education continue to rise, now there are around 7,000 Taiwanese students studying there. Ms. Adamson said the advantages of studying in Australia are High quality education, internationally recognized degrees, multicultural society, living costs and tuitions lower than the UK or USA and so on, so Australia continues to be very popular amongst the Taiwanese.
Many Taiwanese visit Australia for holidays, business or study. Around 1,100 Taiwanese migrated to Australia last year - many under the business skills program, building a strong Taiwanese community in Australia.
Recent electronic innovations at ACIO's Visa Services make travel to Australia even more convenient. Students can apply for visas over the internet using the e-visa system and tourists can obtain visas to Australia electronically through their airline or travel agent by requesting an Electronic Travel Authority (ETA).
The ACIO maintains a wonderful channel for the two sides by holding plenty of activities. Further building the ties are annual bilateral talks, trade promotions (food, education, tourism fairs), Australia at the Zoo, Art in Public Places, Jason's Market Promotion in February, Questacon "Science on the Move" Exhibition in Taichung's National Museum of Natural Science, Clean up the world in September and so on.
When it comes to the ACIO's future goals, Ms. Adamson said the Office will continue to do its best to strengthen the economic, trade and educational ties and to keep each other updated about the image.
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