Background: The seminar was conducted by Export Import Bank of India at Bangalore, on May 18, 2001. The principal objective of this seminar was to educate the participants on the advantages of doing business with countries in Oceania region, especially with Australia and New Zealand.
Faculty: Mr. Peter Forby, Trade Commissioner, Australian Trade Commission, New Delhi, Mr. Peter Healy, Trade Commissioner, New Zealand Trade Development Board, New Delhi and Mr. S. Jagadeesh, Senior Accounting Planner, Dun & Bradstreet Information India (Pvt.) Ltd, Chennai, addressed the workshop.
Target Sectors: The seminar was oriented towards targeting the sectors like IT, Pharmaceuticals, engineering goods, and service providers like warehousing, shipping and freight forwarding companies.
Summary of Proceedings: Mr. Peter Forby made a presentation on 'Business Opportunities in Australia'. In his presentation Mr. Forby said that Australia is one of the most attractive business locations in the world and strategic location for multinational companies targeting market opportunities in the Asia-Pascific region. A number of key factors contribute to Australia being the location choice of international companies, be it manufacturing, management or support services. It was informed that Australia is 11th largest economy in the world, third largest in Asia. Its GDP is larger than the combined GDP of Indonesia, Singapore, Malaysia and the Philippines. Mr. Forby said that Australia has a highly skilled and educated workforce, with one of the lowest turnover rates in the region. Also, it is one of the low cost, prime business location in the Asia Pacific region. Nearly 400 MNCs use Australia as their location for Asia Pacific management and service functions, Mr. Forby said. Many MNCs have set up R & D base in Australia, since the cost of R & D is less as compared to most other countries in Asia, Europe and North America. Mr. Forby's presenation also covered taxation policies, trade regulations, standards, trade priorities etc.
Mr. Peter Healy made a presentation on 'Business Opportunities in New Zealand'. Mr. Healy, in his presentation gave an overview on the investment climate in New Zealand. Mr. Healy said that FDI is encouraged without any discrimination in New Zealand. Mr. Healy further said that the Government does not offer attractive incentives for overseas investors. However, the low inflation rate is viewed as the strongest incentive for investment along with zero capital gains tax. It was further informed that New Zealand has Double Taxation Avoidance Agreements with 24 countries, including the USA, which position this country as an attractive destination for overseas investment. Mr. Healy's presentation also included regulatory system, laws and procedures, trade regulations and standards, non-tariff barriers, import licensing, documentation etc. Mr. Healy also briefed on the trade policy of New Zealand, with special reference to anti-competitive practices in New Zealand.
Jagadeesh made a presentation on 'Managing Business Relationship and Risks while Doing Business with Australia and New Zealand. In his presentation Mr. Jagadeesh covered aspects like exchange regulations, import licensing, trade regulations, credit and payment conditions, customs laws, documentation requirements, marketing, labeling and packaging requirements, laws governing intellectual property rights, etc. Mr. Jagadeesh's presentation also covered the risk factors of Australia and New Zealand and the current D & B grading of risk for these two countries.
Both Mr. Forby and Mr. Healy made a brief focus on the opportunities for Indian IT companies in Australia and New Zealand. The speakers addressed various queries raised by the participants.