The Ministry of Trade, Commerce, Industries and Tourism announced its support, on behalf of the Government and people of Vanuatu, for mutual business relations between Australia and Vanuatu on Friday 22nd June, 2012. The pronouncement was made during the first ever Australia/Vanuatu Business Council Meeting which was held in Brisbane, Australia.
Representing the Government of Vanuatu through the Deputy Prime Minister and same time Minister of Trade, Commerce, Industries and Tourism, Honourable Ham Lini, was the Director General of the Ministry of Trade, Commerce, Industries and Tourism, Mr Marokon Alilee. Discussions were on business, trade and investment relations between Vanuatu and Australia as well as challenges that hindered maximum productivity impacting both economies, and way forward resolutions. This was also a great opportunity to get up to date information on trade, business opportunities and current events in Vanuatu. During the meeting, facts and figures on business, trade and investment connections that Vanuatu has with Australia, strongly highlighted Australia as a crucial business partner for Vanuatu contributing to the country’s social and economic development, which the Director General Marokon Alilee acknowledged the Australian Government for, re-affirmed by a recent message by the Minister of Foreign Affairs, Honourable Alfred Carlo. Findings recorded in the last decade, highlighted that the total value of imports that have come in from Australia was 37%. Australia has the largest impact on foreign direct investment recorded in 2011 constituting to 28%, followed by France at 14% and China at 12%. In tourism, 84% of tourists holidaying in Vanuatu have been Australians and the Australian dollar (AUD) injected into Vanuatu’s economy to help sustain as well as build Vanuatu’s business and trade industries, grows to on average 12% every year. At the end of Mr Alilee’s opening statement, he wished all delegates successful talks and resolutions to pave the way forward in enhancing development to the mutual benefits of Vanuatu and Australia.
Click here to read the Director General’s statement.