Australia open for business
PRIME Minister Malcolm Turnbull has used Vegemite diplomacy to urge British corporate chiefs to invest in Australia.
About two dozen of the UK’s top executives attended a business breakfast — complete with tubs of Vegemite on the table — at the Australian High Commission in London yesterday.
Mr Turnbull — who has been in Germany, France and the UK talking up trade and investment — said Australia had avoided a hard landing from the end of the mining investment boom.
“The resilience of the Australian economy, because of our commitment to free trade and open markets, enabled us to power ahead,’‘ he said. One of the CEOs at the event was Sanjeev Gupta of the Liberty House Group, the consortium which has bought embattled Arrium steel in South Australia.