Mr SETTER - 1996-05-23
I understand that the Australian Bureau of Statistics has released the latest figures on the Territory's trade with the BIMP-EAGA region. Would the minister advise if these figures, which include the first 3 quarters of this financial year, show that we are continuing to trade successfully with this region?
ANSWER
Mr Speaker, I thank the member for Jingili for his question. There is no doubt that, with the release of these latest figures, Territory trade with BIMP-EAGA this year is significantly higher than in any other year. In fact, if the pattern that was experienced in 1994-95 continues
to the end of this financial year, then our exports to the BIMP-EAGA countries - Brunei, Indonesia, Malaysia and the Philippines - will certainly exceed $170m. That $170m is a $50m, or 40%, increase on our export trade figure for last year. Our trade figures have been boosted by newly-released figures that show exports for the March quarter earning $38m, compared with $20.8m for the same period last year.
I have some graphs which I am sure will be of interest to all members. They show how well we are doing in South-East Asia. Adding together the 3 quarterly figures for this financial year to date, exports have already exceeded earnings for the whole of last financial year by some $2.3m. Exports for the whole of 1994-95 were $120.5m, compared with $122.8m for the first 3 quarters of this financial year.
The latest figures have Indonesia at the top of the export list. Its business is now worth some $65.2m, followed by the Philippines at $42.5m, Malaysia at $9.8m and Brunei at $5.3m. The main export continues to be live cattle, with a value of $101.8m for the year to March, compared with $113.5m for the whole of 1994-95 and $69.3m for the whole of 1993-94. I will table these figures which show the growth rates to be very impressive, particularly when it is considered the figures relate only to the 3 quarters of this year to date and not the whole financial year. The other significant export area is transport equipment, $9.1m-worth of which was exported in the year to March, principally to Indonesia. Of course, this is considerably more than the $2.7m-worth exported during the whole of 1994-95 and the $1.8m-worth exported during the whole of 1993-94.
I should point out that the latest figures show that imports from the BIMP-EAGA region are also on the rise. At $11.3m for the 3 quarters of 1995-96, imports are $1.3m higher than for the whole of the financial year of 1994-95 when they totalled some $10m. I would suggest that a rise in imports emphasises the success of the government and private enterprise in trading in the region. It reflects the growing commerce between the countries to our north and ourselves and, of course, the more efficient and more effective transport links that are slowly developing. It is interesting to hear discussions about the increase in air services. Now we are seeing people who are interested in establishing not only new sea links between the Northern Territory and the countries to our north, but also some new air routes which we expect to be inaugurated over the next few months.
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Our main imports are coming from Indonesia, which is the main destination for our exports. There is no doubt that the Territory's trade with the BIMP region has been spurred along ...
Mr Ede: What is the make-up of the imports? Is it mainly timber?
Mr POOLE: Probably. I can supply you with a financial breakdown of those figures.
Business has been spurred along by the signing of MOUs, which we have completed already with Brunei, Indonesia and the Philippines. I am pleased to tell honourable members that I will travel to Malaysia next week to sign the first of 3 trade agreements with regions in Malaysia. We will be signing a memorandum of intent with Labuan. The MOI is based on the same principle as an MOU but, under the federal Malaysian government constitution, MOUs can be signed only at a federal level - that is, with the Australian federal government. Therefore, this will be an MOI. Later in the year, a couple of months away we think, I hope to sign similar MOIs with the Malaysian states of Sabah and Sarawak. Of course, we will be signing an MOI with the Indonesian province of Bali when its representatives attend NT Expo in June this year. I am sure all these agreements will emphasise and improve even further our trade with our friends to the north in the BIMP-EAGA region.
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ANSWER
Mr Speaker, I thank the member for Jingili for his question. There is no doubt that, with the release of these latest figures, Territory trade with BIMP-EAGA this year is significantly higher than in any other year. In fact, if the pattern that was experienced in 1994-95 continues
to the end of this financial year, then our exports to the BIMP-EAGA countries - Brunei, Indonesia, Malaysia and the Philippines - will certainly exceed $170m. That $170m is a $50m, or 40%, increase on our export trade figure for last year. Our trade figures have been boosted by newly-released figures that show exports for the March quarter earning $38m, compared with $20.8m for the same period last year.
I have some graphs which I am sure will be of interest to all members. They show how well we are doing in South-East Asia. Adding together the 3 quarterly figures for this financial year to date, exports have already exceeded earnings for the whole of last financial year by some $2.3m. Exports for the whole of 1994-95 were $120.5m, compared with $122.8m for the first 3 quarters of this financial year.
The latest figures have Indonesia at the top of the export list. Its business is now worth some $65.2m, followed by the Philippines at $42.5m, Malaysia at $9.8m and Brunei at $5.3m. The main export continues to be live cattle, with a value of $101.8m for the year to March, compared with $113.5m for the whole of 1994-95 and $69.3m for the whole of 1993-94. I will table these figures which show the growth rates to be very impressive, particularly when it is considered the figures relate only to the 3 quarters of this year to date and not the whole financial year. The other significant export area is transport equipment, $9.1m-worth of which was exported in the year to March, principally to Indonesia. Of course, this is considerably more than the $2.7m-worth exported during the whole of 1994-95 and the $1.8m-worth exported during the whole of 1993-94.
I should point out that the latest figures show that imports from the BIMP-EAGA region are also on the rise. At $11.3m for the 3 quarters of 1995-96, imports are $1.3m higher than for the whole of the financial year of 1994-95 when they totalled some $10m. I would suggest that a rise in imports emphasises the success of the government and private enterprise in trading in the region. It reflects the growing commerce between the countries to our north and ourselves and, of course, the more efficient and more effective transport links that are slowly developing. It is interesting to hear discussions about the increase in air services. Now we are seeing people who are interested in establishing not only new sea links between the Northern Territory and the countries to our north, but also some new air routes which we expect to be inaugurated over the next few months.
Page 1414
Our main imports are coming from Indonesia, which is the main destination for our exports. There is no doubt that the Territory's trade with the BIMP region has been spurred along ...
Mr Ede: What is the make-up of the imports? Is it mainly timber?
Mr POOLE: Probably. I can supply you with a financial breakdown of those figures.
Business has been spurred along by the signing of MOUs, which we have completed already with Brunei, Indonesia and the Philippines. I am pleased to tell honourable members that I will travel to Malaysia next week to sign the first of 3 trade agreements with regions in Malaysia. We will be signing a memorandum of intent with Labuan. The MOI is based on the same principle as an MOU but, under the federal Malaysian government constitution, MOUs can be signed only at a federal level - that is, with the Australian federal government. Therefore, this will be an MOI. Later in the year, a couple of months away we think, I hope to sign similar MOIs with the Malaysian states of Sabah and Sarawak. Of course, we will be signing an MOI with the Indonesian province of Bali when its representatives attend NT Expo in June this year. I am sure all these agreements will emphasise and improve even further our trade with our friends to the north in the BIMP-EAGA region.
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Last updated: 09 Aug 2016