Many thanks James. Good afternoon and thank you for the warm welcome. Let me also thank the Australia-Israel Chamber of Commerce for giving me the opportunity to talk to you today.
This is the second time I’ve had the privilege of speaking to the Chamber in recent months – the last being in Melbourne in May. Of course, since I arrived back in Australia almost two years ago, I’ve been doing my part to contribute to South Australia’s economic prosperity – or at least the prosperity of the state’s wonderful wine producers in the Barossa and the Clare Valleys, and the Adelaide Hills.
So it’s great to see something of the state first hand and to see what makes it one of Australia’s most progressive states. While we are in challenging times, Adelaide remains the least costly city to set up and do business in Australia; and in recent years we’ve also seen South Australia joining the club of resource rich states that are benefiting from Asia’s demand for hard and soft commodities.
What I want to do this afternoon is to share my views on the current state of the global economy and talk about why I believe greater engagement with Asia is the key to our continued national and individual prosperity.