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BCC Conference | Australia economic growth | E-commerce in Asia Pacific

BCC Conference
British Chambers of Commerce Annual Conference 2016

On 3 March 2016 the British Chambers of Commerce held its Annual Conference, where political and business leaders examined the main issues affecting the UK’s economic and political future.

Speakers discussed how the British government is supporting local businesses during a time of growing uncertainty and how investment in the UK’s infrastructure can help the UK retain its position as a key innovator.

Britain’s future in the EU was also a key theme: representatives from both sides of the Brexit debate led lively discussions about the upcoming EU referendum.


Economic growth in Australia defies expectations

The Australia’s economy grew by 0.6 per cent in Q4 2015 – an annual increase of 3 per cent compared to Q4 2014. This growth is an improvement on the 0.4 per cent previously predicted.

“We are growing faster than every economy in the G7, and growing well above the OECD average,” commented Scott Morrison, Australia’s treasurer. The main drivers of this growth were household consumption, construction, and public spending.

UK exports to Australia have grown almost 80 per cent since 2007 and the country is an open market with minimal restrictions on imports of goods and services.

Sydney Harbour Bridge

Asia Pacific countries set to drive global e-commerce growth

The total online retail revenues in China, Japan, South Korea, India, and Australia will reach US$ 1.4 trillion in 2020, according to Forrester – surpassing the combined figure for the US and Western Europe.

India’s online retail market alone is set to reach US$ 75 billion by 2020, making it the fastest growing e-commerce market in Asia Pacific, followed by China.

When it comes to trading internationally with new markets, or reaching new customers in an increasingly competitive space, e-commerce is an avenue for growth that British businesses just can’t ignore.


Thursday 10 March 2016

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