Australia and Germany’s ties are now stronger than ever before thanks to the Australia-Germany Advisory Group headed by Finance Minister Mathias Cormann.
Cormann says the countries are like-minded on internationals issues and share many core values.
“Continuing to strengthen our bilateral relationship with Germany is very much in Australia's interest,” Cormann says, in the lead up to the Perth-hosted Asia-Pacific conference which will feature German delegates including President Frank-Walter Steinmeier.
“One of my responsibilities over the past three years has been to leverage my German-speaking background to help us broaden, deepen and strengthen our bilateral relationship with Germany.”
Germany is also the fourth-biggest economy in the world and the largest economy in the European Union as well as a substantial European political power.
“We hope to successfully conclude a free-trade agreement with the European Union in the not-too-distant future. Importantly, the European Union as a block remains our second-largest trading partner and our largest source of foreign direct investment,” Cormann says.
The Australia-Germany Advisory Group, which was established by the Federal Government in 2014, developed 59 recommendations across five themes on how to boost links with Germany, including trading and investment; and science and innovation.
Cormann says the recommendations have been progressively implemented including the inauguration of regular 2+2 foreign and defence ministers’ meetings in Berlin late last year.
“We were able to negotiate in record time a new modern double taxation agreement designed to facilitate increased trade and investment flows between our two countries,” Cormann says.
“Germany has strongly committed to support our bid for a Free Trade Agreement with Europe.
“We have established the Prime Minister’s Industry 4.0 Taskforce to enhance collaboration between Australian and German industry leaders in setting global standards for the next phase of advanced manufacturing.”
In addition, the Innovation Landing Pad in Berlin is a place where Australia’s best and brightest entrepreneurs can develop ideas and forge networks bolstering business links and opportunities.
“Through the Australia-Germany Advisory Group we also committed to hosting this major regional conference which will take place in Perth in November this year - to bring together business and government leaders from Germany, Australia and the Asia Pacific.”
The 2017 Asia-Pacific Regional Conference will be held at the Crown Convention Centre from November 3 to 5 and will include more than 1000 international delegates.
► Interested in exploring new trade and investment opportunities? Register now for the upcoming Asia-Pacific Regional Conference, set to bring up to 1000 delegates to Perth.