Deputy Premier med rel: Asia Pacific leaders to gather in Sydney in 2015 for major financial event

NSW Deputy Premier and Minister for Trade and Investment Andrew Stoner today announced that Sydney will host a support event for one of the world’s leading economic forums, the Boao Forum for Asia (BFA), in 2015.

Mr Stoner made the announcement in Beijing, where he signed a Memorandum of Understanding with the Secretary General of Boao Forum for Asia Secretariat, Ambassador Zhou Wenzhong.

“The BFA, permanently located in Bo’ao, Hainan Island, China, is the leading forum in Asia committed to promoting economic integration in the region,” Mr Stoner said.

“NSW will host a financial cooperation event in June 2015 as part of the expanding charter of the BFA to host conferences, seminars and workshops on issues of significance to the economic and social development of Asia and the world.

“Next year’s event will attract some of the highest level leaders from government, business and academia throughout the Asia Pacific to Sydney and highlight NSW’s role as a global financial hub for the region.”

BFA Ambassador Zhou Wenzhong said he was delighted to bring the forum back to Australia after three years.

“BFA is the premier forum for Asia and emerging markets. This is the second time the BFA will host a conference in Australia, following a 2011 conference on energy, resources and sustainable development in Perth,” Ambassador Zhou said.

“Energy, resources and financial cooperation are the two most important conference brands for BFA, in addition to its flagship annual conference each spring in Bo’ao.

“Previously, by holding financial conferences in London, Paris and Mumbai, BFA has managed to expand its footprint to key financial centres in the world.”

Ambassador Zhou commended Australia and Sydney for its highly developed financial industry.

“Despite a lower population, Australia boasts four banks ranking in the Top-20 globally and increasingly strong links with the Asian economy through trade and investment,” Ambassador Zhou said.

“BFA members harbour great interest in coming here and tapping the potential of this dynamic country and city through face-to-face discussions on a wide variety of issues related to financial cooperation.”

Mr Stoner said securing the event for Sydney was an outstanding achievement for NSW and an endorsement of the State’s significant economic credentials.

“The NSW economy is big enough to be classed as a world economy – bigger than economic powerhouses such as Hong Kong, Singapore, and Malaysia,” Mr Stoner said.

“We are at the heart of Australia’s financial and professional services industries, boosted by some 600-plus multinational companies that have chosen Sydney as their regional headquarters.

“The 2015 BFA Financial Cooperation Conference will continue to keep Sydney and NSW in the global business spotlight and I am confident we will make it another major global business event to remember.”