Dr LIM - 1999-08-18
It is well known that the Northern Territory government aims to establish the Northern Territory as a regional supply and service centre. Our strong relationship with the BIMP-EAGA region will undoubtedly give us a leg in. Could the minister inform the House of any initiatives to encourage regional finance and investment services here?
ANSWER
Mr Speaker, the government through my Department of Asian Relations and Trade is currently working in partnership with the governments of Brunei, Indonesia, Malaysia and the Philippines to coordinate a Northern Territory and BIMP-EAGA finance and investment conference, to be held in Darwin on 27 and 28 October this year. The conference will reinforce the Northern Territory government’s vision of diversifying the economy through service industry growth.
I have been advised that more than 70% of the invited speakers have already accepted the invitation to speak at the conference, including senior representatives from ASEAN, the Asian Development Bank and the World Bank, and also my counterpart ministers from participating countries. It is anticipated that approximately 350 delegates consisting of senior politicians, leading financial executives and international and national media will attend the conference.
The conference promises to be an exciting event that holds the potential to address issues such as acceleration of the ASEAN Free Trade Agreement (AFTA) and its impact on trade, servicing the financial and investment requirements of a developing region, including Darwin, e-commerce and its role in strengthening financial linkages in the region, and the role of international financial institutions in accelerating economic growth and also in identifying opportunities for international financial institutions to develop corresponding banking linkages in the areas of co-financing, financial advisory services and loan syndication.
It really is a tremendous opportunity for Darwin to promote itself as a regional service hub. Getting the BIMP-EAGA finance ministers and associated businesspeople here to Darwin shows the success of the work that’s been done over many years by this government in becoming part of the region. Hopefully, this will provide quite a boost to Darwin in the region. I undertake to inform honourable members of the outcomes of the conference in due course, and hope that members attend and participate in the forums that will be conducted during the conference.
ANSWER
Mr Speaker, the government through my Department of Asian Relations and Trade is currently working in partnership with the governments of Brunei, Indonesia, Malaysia and the Philippines to coordinate a Northern Territory and BIMP-EAGA finance and investment conference, to be held in Darwin on 27 and 28 October this year. The conference will reinforce the Northern Territory government’s vision of diversifying the economy through service industry growth.
I have been advised that more than 70% of the invited speakers have already accepted the invitation to speak at the conference, including senior representatives from ASEAN, the Asian Development Bank and the World Bank, and also my counterpart ministers from participating countries. It is anticipated that approximately 350 delegates consisting of senior politicians, leading financial executives and international and national media will attend the conference.
The conference promises to be an exciting event that holds the potential to address issues such as acceleration of the ASEAN Free Trade Agreement (AFTA) and its impact on trade, servicing the financial and investment requirements of a developing region, including Darwin, e-commerce and its role in strengthening financial linkages in the region, and the role of international financial institutions in accelerating economic growth and also in identifying opportunities for international financial institutions to develop corresponding banking linkages in the areas of co-financing, financial advisory services and loan syndication.
It really is a tremendous opportunity for Darwin to promote itself as a regional service hub. Getting the BIMP-EAGA finance ministers and associated businesspeople here to Darwin shows the success of the work that’s been done over many years by this government in becoming part of the region. Hopefully, this will provide quite a boost to Darwin in the region. I undertake to inform honourable members of the outcomes of the conference in due course, and hope that members attend and participate in the forums that will be conducted during the conference.
Last updated: 09 Aug 2016