State Profile: Northern Territory
Northern Territory builds on dedicated China
STRATEGY
Known as the ‘top end’, the Northern Territory is perfectly positioned for shipping to Asia and has ambitious plans to increase is trade relationship with China. Currently, China is the Northern Territory’s second-largest trading partner, worth some A$1.4b. The Northern Territory’s top exports to China include manganese, zinc, iron ore and stone, sand and gravel. These exports have consistently shown steady growth across all areas and in the past decade, overall growth has increased by an average of 22 per cent per year. In 2007 the Northern Territory government launched the China Minerals Investment Strategy, becoming the only government with a dedicated China strategy. The overall vision is to secure five Chinese investments by 2011. Its aims include raising the profile of the Territory’s mineral and investment opportunities in China, advancing mining exploration and projects through Chinese investments, as well as acting as a Chinese business liaison. Under this strategy, Northern Territory businesses can submit projects to the government, which will then promote them to targeted Chinese companies. The Northern Territory government is working hard
to strengthen its relationship with China through visits and education. A delegation of both government representatives and local business representatives annually attend the Canton Fair in Guangzhou, the largest trade fair in China. In 2008, the government held a Northern Territory Investment Seminar in Beijing, attended by 80 Chinese companies, which aimed to promote 24 exploration projects to potential investors and increase the profile of mining in the Territory. The Government has also introduced grants to encourage investments in exploration. Under the Bringing Forward Discovery scheme, A$14.4m will be granted for exploration projects in order to reduce risk and encourage investment. The Northern Territory also signed a friendship agreement with Anhui province in 2000 and another with Hunan in 2008. Darwin and Haikou established a sister-city relationship in 1990 and the two cities continue to strengthen their association through regular student exchanges and reciprocal official visits. The Northern Territory government has instigated
various plans and strategies in order to further develop as well as promote Darwin as an alternative mining
ABOVE:Wave pool and artificial beach in Darwin Image courtesy of Tony Martin
LEFT: Iron Ore wharf, Darwin. Image courtesy of D. Guanlong
QUICK FACT:
The Northern Territory’s top exports to China include manganese, zinc, iron ore and stone, sand and gravel.
NT HIGHLIGHTS
‹ The Northern Territory’s key export items to China have shown steady growth in the past decade. Overall growth has increased by an average of 22 per cent per year.
‹ China’s demand for bulk minerals has seen the Northern Territory government invest A$24.5m in bulk materials handling facilities at East Arm Port.
and service gateway, all of which will provide ample opportunity for investment. The overarching strategy is the Territory 2030 Strategic Plan, which aims to ensure the Territory’s continued economic growth. Written in 2009, this plan is designed to ensure widespread development and uses 128 targets under six key areas; education, society, economic sustainability, health and wellbeing, environment, and knowledge, creativity and innovation. This is supported by the Growing International Trade Plan 2009–2013, which aims to “diversify and strengthen the Territory’s economic base” by developing actions to attract further international investment. One key point of this plan is the promotion of the AustralAsia Trade Route in order to attract foreign investment. The trade route incorporates regular shipping between Shanghai and Darwin, as well as rail and freight links to other Australian major economic centres, highlighting the strategic position of Darwin for advantageous investment and distribution throughout Australia.
Australia China: BEYOND TOMORROW 127
AUSTRALIA
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