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Minister for Industry and Innovation Government of Australia
In spite of concerns about global economy, outlook for the Australian economy remains strong
In an exclusive interview with Fibre2Fashion Correspondent Cindrella Thawani, Greg Combet expresses that economic conversions evolving in Asia are historic developments. Adding further, he says, “E-commerce is an exciting opportunity for retailers and customers.”
Greg Combet caters as the Minister for Industry and Innovation, Government of Australia, since December 12, 2011. In addition, he serves as the Minister for Climate Change and Energy Efficiency from 2010, September 9.
Besides, he has completed his Bachelor of Engineering as well as Graduate Diploma of Labour Relations and the Law.
E-commerce is now one of the largest markets in your region. Is this a big challenge for local entrepreneurs or a huge opportunity?
E-commerce is an exciting opportunity for retailers and customers alike that will continue to evolve and generate a range of new consumer and business opportunities. Australian Government’s National Broadband Network will provide all Australians with increased opportunities to access and utilise E-commerce options.
For retailers, it means that they can quickly and cost effectively move beyond their immediate market and appeal to customers around the world. Through E-commerce now, it has more than 200,000 global customers ordering directly through its website.
As well as, opening up new markets for Australian businesses, E-commerce will allow businesses to better manage their operations and to be more flexible in reacting to market changes.
How do you see Australia’s textile business with ASEAN countries?
Economic transformations taking place in Asia are historic developments, not only for Asia but for the whole world. Australia welcomes the development of Asia’s economies and believes that through trade liberalisation and economic integration the benefits of economic development can be best shared and secured.
A good example of this integration is the ASEAN-Australia- New Zealand Free Trade Area (AANAFTA), which has established a strong link between Australia and ASEAN and is liberalising trade in the region.
On November 20, 2012, Australian Prime Minister Julia Gillard, along with leaders from 15 other countries in the Asian region, including ASEAN members, launched negotiations for a new trade agreement, the Regional Comprehensive Economic Partnership (RCEP).
This new agreement will promote the further integration of Australian economy with ASEAN by improving the flow of goods, services, capital and ideas.
Australian Textile, Clothing and Footwear (TCF) sector, like other sectors of economy, will benefit from the increased trade through movement up the value chain, improvements in productivity and access to new markets.
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