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Resolution from ARMCANZ on Asian financial crisis



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Media. Release John Anderson ISEsSJJSSi, DPIE98/96A 31 July 1998

RESOLUTION FROM ARMCANZ ON ASIAN FINANCIAL CRISIS

Federal Primary Industries and Energy Minister, John Anderson, said today's meeting of the Agricultural & Resource Management Council of Australia & New Zealand (ARMCANZ), in Broome discussed the implications for Australian agricultural exports of the ongoing economic difficulties being experienced by several Asian economies.

"ARMCANZ Ministers concluded that notwithstanding recent economic developments in key Asian economies, Asian markets will continue to be critical to the long term profitability of Australian agriculture," Mr Anderson said.

ARMCANZ Ministers reiterated the vital importance of exports to the future growth and prosperity of Australia's rural communities. Ministers made it clear that the Asian markets are the major opportunities for much of Australia's primary production and a major effort is needed to better understand and meet the requirements of these markets.

"ARMCANZ Ministers agreed every effort must be made by industry and Government to maintain Australia's excellent underlying relationship with its Asian trading partners.

"Action taken to date by Australia to help stabilise key economies has positioned Australia well for its future trading relationships with these countries.

"ARMCANZ Ministers indicated they would strenuously oppose any statements or policies by individuals or political parties that jeopardise Australia's continuing efforts to improve and expand our trade with our Asian neighbours.

"Ministers also criticised initiatives of competing exporters to adopt unfair and predatory practices directed towards increasing market share in Asian commodity markets at the expense of Australian agricultural industries.

"Ministers were particularly concerned in this regard about threats to the competitiveness of Australia's grain and dairy exports.

"ARMCANZ Ministers decided there is scope and opportunity to bring together Commonwealth and State agencies, as well as industry, to improve the focus and coordination of efforts on trade with Asia. ,../2

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"Ministers called for a workshop involving all relevant parties to be held prior to the next ARMCANZ meeting and for the results of the workshop to be considered by Ministers at their meeting in February 1999 in Adelaide," Mr Anderson said.

Further inquiries:

Mr Anderson's office Robert Haynes, (02) 6277 7520 or 0419 49 3511

Internet: http://www.dpie.gov.au/dpie/pr/media_releases/anderson/index.html