TRANSCRIPT
of
THE HON PETER COSTELLO MP
Treasurer

Doorstop interview
Friday, 7 September 2001
4.50 pm (Local time)
Suzhou, China

SUBJECTS: APEC Finance Ministers’ Meeting, Ansett

JOURNALIST:

Sir you must have talked about Australian companies invest here. So what’s your comments about that? Cooperation towards that in the future?

TREASURER:

I think Australian companies are very interested in investing in China. We, in Australia, have the opportunity to supply a lot of energy to China. Liquid Natural Gas, and we’re very interested in that, and also in the services trade, in insurance services. And we are very good reliable trading partners and would like to see the trade develop.

JOURNALIST:

Speaking about Australian companies, there is talk in the market today that Ansett may have to bailed out. Any comments on that?

TREASURER:

Ansett is a subsidiary of Air New Zealand and this is a matter that the Air New Zealand Board is discussing. I don’t want to pre-empt any decisions they might announce.

JOURNALIST:

Would there be any plans to capitalise the airline?

TREASURER:

I think it is a matter for the Air New Zealand Board. The Air New Zealand Board will be meeting and I think any announcement should come from them.

JOURNALIST:

What did you talk with the Minister about just now?

TREASURER:

We talked about the world economy. We talked about the opportunities to re-stimulate growth in the region. We talked about our comparative economic performances. Both the Chinese economy and the Australian economy have been strong in the recent quarters. And we also talked about future trade opportunities, particularly from our side, trade opportunities in the energy market and in the insurance market.

JOURNALIST:

What particularly are the issues you have agreed upon to help re-start the (inaudible)?

TREASURER:

I think that’s something that will be discussed at the meeting tomorrow – what needs to be done to promote global growth. Obviously global growth has turned down. So far both China and Australia have performed quite well, but it is in all of our interests to have a strong world economy. A strong world economy is good for us.

Thanks very much.