Australia a part of Asia, and a global success story, says envoy

New Delhi, Feb.18 (ANI): Australia's High Commissioner to India, Patrick Suckling, has welcomed a new report which vividly illustrates why Australia is a great place to do business.

"The Why Australia: Benchmark Report 2014 report shows Australia has transformed from a comparatively homogenous society, with a closed economy, into a thriving melting pot which is entering its 23rd year of continuous economic growth", Mr Suckling said.

"Sometimes people still think of Australia as an entirely Anglo-Saxon country, when in reality we have an extremely diverse and cosmopolitan society. The report shows more than a quarter of our workforce was born overseas; over two million Australians speak an Asian language at home."

Overall visitor numbers to Australia have more than doubled over the last 20 years, and India is among Australia's fastest growing markets- with a 15 fold increase over the same period.

"Australia has one of the most multilingual, multicultural and educated labour forces in the world, which means we are well placed to capitalise on growth throughout the Asian region. Ten of our top 12 export markets are in Asia", Mr Suckling said.

Mr.Suckling said the report also demonstrates that the Australian economy continues to go from strength to strength, despite persistent challenges to the global economy.

"Australia is rated triple-A by all three global rating agencies and has levels of net public debt among the lowest in the OECD. Our R and D investment has trebled in ten years- twice the OECD average. And there are 18,000 foreign companies registered in Australia", Mr. Suckling said.

"Australia has extremely strong economic fundamentals, and our real GDP growth outlook to 2018 is set to exceed all other major advanced economics. We have the world's third largest pool of funds under management, which underscores potential opportunities for Indian companies to attract Australian investment."

"The message to Indian investors is also clear- Australia is a great place to do business, and it's only going to get better." (ANI)