12 March, 2008

Australian economy Booming

The Australian Economy is booming. The Australian dollar has appreciate 30% in value over the last 12 months. There are billions of dollars of account surpluses for Australian State Governements - Especially for Western Australia. There are recruitment drives in the UK urging some of the 100,000 Australians living in the UK to return to Australia. The shortage of workers in Australia is causing so many problems that many people with skills can more easily than usual obtain a work visa to Australia.
The Australian Chamber of Commerce in Riga as of March 2008 is trying to source around 45 million dollars worth of products from Europe for the Australian market. If there is success then this will grow to around 500 million dollars in 2009.
European and US economies are on a downturn so markets and income are being lost by many firms. Just maybe it is time for many European Latvian businesses to think about Australia as a business partnership opportunity.

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