16 May 2013
Boeing launches largest R&D facility outside The US in Australia
Boeing has unveiled its largest research and development (R&D) facility outside the US in Port Melbourne. The facility will enhance Boeing's R&D capabilities and increase collaboration with Australian organisations. Boeing has its biggest presence outside the US in Australia and uses its operations here to manufacture composite materials for aircraft such as the 787 Dreamliner among other activities.
Press release: Boeing opens largest R&D lab outside US in Australia
PM concludes visit to PNG
The Prime Minister, Julia Gillard, has concluded her visit to Papua New Guinea (PNG) by signing a Joint Partnership Declaration with the PNG Government. The Declaration includes a commitment to work together to benefit from the opportunities presented by the Asian Century, as trade and investment links between the countries grow. Two way trade grew at 5% in 2011-2012 and Australian investment in PNG has increased fivefold over the past five years.
Press release: Prime Minister concludes visit to Papua New Guinea
Australian sporting specialists to showcase their wares
More than twenty Australian firms will attend the SportAccord Convention in St Petersburg, Russia. The Convention will bring together host nations with sporting industry specialists and includes organisers of the 2014 Sochi Winter Olympics and the 2014 Brazil FIFA World Cup. Since the Sydney Olympics, Australian sporting specialists have been involved in over forty major world events.
Press release: Sporting specialists gather in St Petersburg
Improved connectivity key to boosting trade in S & SE Asia
Trade and investment is being hindered between South and Southeast Asia due trade barriers, infrastructure bottlenecks and lack of cooperation, according to an Asian Development Bank report. The report details that while economic growth in the two sub-regions has been strong, economic integration between the sub-regions has been limited.
Publication: Connecting South and Southeast Asia
Indicators point to an upswing in global growth
Growth rates for most parts of the global economy are set to reach or exceed trend in the following months according to the May release of the OECD's Composite Leading Indicators (CLIs). The May CLI's predict growth for the US, Japan and even the embattled Euro area. The Indicators show turning points in economic activity relative to trend.
OECD: Composite Leading Indicators (CLIs), OECD, May 2013
Did you know?
Australia's number one export to PNG is crude petroleum. In 2012 Australia exported $590 million worth of petroleum to PNG. That's enough petrol to fill up your tank over 16 million times!
Visit the DFAT trade portal for more on Australian trade, including FTA updates and the latest trade statistics.