what's happening / news / Australian Business Summit Council - Speech by the Hon. Mark Coure MP

Australian Business Summit Council - Speech by the Hon. Mark Coure MP

I would like to acknowledge the traditional custodians of the land we are meeting on today, the Gadigal people of the Eora nation. I pay my respects to their Elders past, present and emerging. I extend that respect to all Aboriginal and Torres Strait Islander peoples here today.

I’d like to acknowledge:

  • The Ambassadors, High Commissioners and Consul Generals
  • As well as my parliamentary colleagues present.

I note that Mr Volodymyr Shalkivskyi from the Embassy of Ukraine is among the audience tonight. I hope the Ukrainians who are settling in New South Wales have found some peace. We as a Government are doing what we can to support them, and the communities affected by the conflict.

I’d also like to acknowledge the Australia Business Summit Council. Congratulations on tonight’s event and the launch of the third edition of your business publication EKONOMOS. And thank you Dr Frank Alafaci, President of the Australia Business Summit Council for inviting us all here this evening.

Unfortunately, Stuart Ayres, NSW Minister for Enterprise, Investment and Trade, Tourism and Sport, and Western Sydney was unable to be here tonight. But, I am here representing him and the NSW Government.

It is wonderful to come together to speak on our priorities to bolster trade, investment and opportunities in this great state.

NSW deeply values the role of the Australian Business Summit Council, the diplomatic and consular corps and the business community present here. You are all enterprising, vibrant drivers of our economic success—both as a state and as a nation. It is our ambition to make NSW and even more desirable place in the world to visit, study, invest and do business.

So, how are we working to achieve that?

First, we’re identifying export and expansion opportunities for businesses here in New South Wales. We are also supporting international businesses to come to NSW, set up shop, and create jobs. Finally, we’re creating opportunities for Australian and NSW businesses to double down and grow their domestic operations.

We also work very closely with the diplomatic and consular corps, including those of you here tonight. I cannot overstate just how much we value our partnership with you. Indeed, this partnership has long been built on trade, business and culture.

As Minister for Multiculturalism, I often speak about how we are the most successful and diverse multicultural society in the world. The main reason why Sydney is such a great global city is because we embrace the cultures that constitute us. By doing this, we actually capitalise on our successful multiculturalism in a really practical way.

For instance, this helps us understand the way other cultures do business, which allows us to be more competitive in a globalised economy. As a result, more Australians are setting themselves up for success.

NSW offers the full spectrum of investment opportunities in traditional sectors, including agribusiness and Food & Beverages—as well as future-focused sectors such as fintech and the space industry. Many of these opportunities can be found in places or precincts across the state—vibrant and growing clusters of the best and brightest in business and academia.

For example, Tech Central is a precinct supporting technology companies across a significant innovation corridor in Sydney’s CBD. This precinct will future proof our position as a leader in technology.

And in regional NSW, there are key investment opportunities in our special activation precincts. This includes defence industry at Williamtown, north of Newcastle, and agribusiness and food processing at Moree. We know that global trade is rapidly changing and has faced a range of disruptions over recent years.

While we continue to feel the impacts of the COVID-19 pandemic and a shift in global trade patterns, we see tremendous opportunities.

The NSW Government has set an ambitious target to double NSW’s exports to $200 billion by 2031. We will achieve this by increasing exports from 15 to 18 per cent of our Gross State Product by 2024, as well as by growing and diversifying NSW’s exports.

Importantly, we will continue to run strategically targeted export programs to support local business growth. This positions NSW businesses to capitalise on new opportunities overseas, including in many of the markets represented by officials here tonight.

Our international trade and investment network is expanding to support more exporters, attract more investment and international students to our shores. We are really looking forward to working with the businesses and consular representatives here tonight to support your local growth objectives, and those of the clients you work with.

Thank you again to the ABSC for giving me the opportunity to speak to you this evening.