16 January 2015
Media Release - #2015003, 2015

Promoting Australia’s financial services industry in Asia and Europe

This weekend I leave for Hong Kong and Europe to participate in a range of discussions with key government and business representatives on the global economy and Australia's financial services sector.

In Hong Kong, I will participate in the Asian Financial Forum and meet with the Hong Kong government to promote Australia as a financial services hub. I will also meet with Australia's Chamber of Commerce in Hong Kong & Macau. In my meetings, I will discuss the implementation and benefits of initiatives aimed at increasing Australia's engagement in Asia, including the RMB clearing bank to be established in Sydney and the allocation of a quota of RMB 50 billion to Australia under the RMB Qualified Foreign Institutional Investor scheme.

I will then travel to Davos, Switzerland to represent the Australian Government at the Annual Meeting of the World Economic Forum from 21-24 January. In Davos, I will discuss recent developments in the global economic outlook and will take the opportunity to progress initiatives agreed with world leaders at the G20 Leaders Summit in Brisbane last November, including the Global Infrastructure Hub to be established in Sydney.

I will also travel to London, England to meet senior representatives from British regulators to discuss the global financial system and initiatives to increase global economic stability.

The trip will conclude with a visit to Krakow, Poland to represent the Prime Minister at the commemorative ceremony for the 70th anniversary of the liberation of Auschwitz-Birkenau on 27 January. The ceremony is an important event to ensure that the horrific events that occurred at the site of the Auschwitz-Birkenau concentration camp are never forgotten and to honour all victims of the Holocaust. It will be a solemn occasion attended by survivors of the camp and many world leaders.