The Minister for Financial Services, Superannuation and Corporate Law, Chris Bowen MP, today leaves for Hong Kong to advance Australia's standing as a financial services hub and as well as strengthen trading relationships within the region.
The visit follows the release of the Australian Financial Centre Forum's Report, Australia as a Financial Centre: Building on our Strengths (the Johnson Report), which makes a number of recommendations to promote Australia as a financial services centre.
One of these recommendations is greater Ministerial involvement in tailored financial services missions to selected economies in the region in order to encourage two-way investment in financial services.
"The visit to Hong Kong is a timely opportunity to highlight the strengths of Australia's financial sector to Asia-Pacific market participants," Mr Bowen said.
"This is also an important opportunity to sponsor regional engagement as part of the Rudd Government's strategy to promote Australia as a financial services centre in the region."
Mr Bowen will deliver a speech to the Asian Financial Forum on Australia's performance throughout the global financial crisis and the importance to Australia of continued regional engagement and cooperation on financial sector issues.
The Minister will also be looking at developments in Asian financial markets, especially Hong Kong and China, and assessing how the region has been affected by the global downturn.
Mr Bowen's itinerary includes:
- Meeting with Secretary for Financial Services and the Treasury, Hong Kong;
- Meeting with Vice-Chairman, International Chamber of Commerce;
- Meeting with Australian Financial Services Delegation;
- Meeting with Professor of Economics, Stern School of Business, New York University and Chairman, RGE Monitor;
- Meeting with Austrade Regional Manager and Senior Trade Commissioner (Hong Kong).
19 January 2010