Message from the President
Welcome to the Canadian Australian Chamber of Commerce newsletter. We have had a great start to the New Year.
Inside this issue: Canada Down Under
The Hon. Malcolm Turnbull
The Hon. Gladys Berejikilian
We have some great events coming up in 2013 so please ensure you register early as they do get booked out quickly.
A Day on the Harbour and Australia Day in Toronto
We strive to contribute to increasing the level of trade and investment between Australia and Canada and always welcome comments and suggestions from our members.
Calin Rovinescu, Air Canada
Jacques Demers and Upcoming Event
Canadian Australian Events of Interest
The Canadian Australian Chamber of Commerce is growing in size in both Canada and Australia and soon we hope to be able to share with you some new Chapters within both countries. Please remember, Gold Members can gain access to all events in both countries. We will also have reciprocal rights with some Canadian Chambers globally. Details to be released soon.
Remember, we are always interested in your feedback and suggestions for presenters and events. Jeannie Foster, President CACC
Canada Down Under The Canadian High Commission in Australia runs a YouTube channel entitled Canada Down Under— Bienvenue! which highlights Canadian achievers in Australia. The channel is currently running a series on “doing business with Australia”. Mario St Marie, the Consul General of Canada in Sydney recently interviewed two of our high profile CACC members, Hugh Millikin from Indigo Pacific and Michael Shepherd from CGI Australia to get their views on what it is like to do business in Australia as Canadian companies. To view these interviews follow the links below: Hugh Millikin (Indigo Pacific) http://www.youtube.com/watch?v=f2hZin8DqbQ&feature=share&list=PLb9qivShAqAvH03xyBfqKd_dPAoYyoBGU
Michael Shepherd (CGI) http://www.youtube.com/watch?v=wD10GDxD7Nc&feature=share&list=PLb9qivShAqAvH03xyBfqKd_dPAoYyoBGU PAGE 1
Australia—Canada News Canadian pension funds keen to invest in Australia Recently the Canada Pension Plan Investment Board (CPPIB) formed a joint venture with Lend Lease Corporation and the Australian Prime Property Fund Commercial (APPFC) to develop and hold two waterfront office towers in Sydney’s central business district. The joint venture commits C$2.08 billion, with CPPIB committing 50% of the equity, and 25% each for Lend Lease and APPFC. In October, CPPIB also announced their A$436 million equity investment in two shopping centres, Macquarie Centre in Sydney and Pacific Fair on the Gold Coast. In addition, OMERS, one of Canada’s biggest pension fund managers, is planning to join a growing number of foreign investors looking to invest in Australia’s infrastructure and mining assets. OMERS Strategic Investments, a unit of the $55 billion Ontario Municipal Employees Retirement System, mainly invests in Canada. However Australia has become a desirable environment for investment, with sovereign investors attracted to the high-yielding assets and strong export links to developing nations in Asia, especially China, the nation’s biggest trade partner.Executives from OMERS Strategic Investments said that Australia was attractive because of its stable political environment and strong economic fundamentals. The fund is initially targeting assets in the resources sector, including infrastructure. Canadian company wins Australian contract The Queensland Department of Transport and Main Roads recently certified the Canadian Carmanah EG series outdoor solar lighting system for roadway lighting across the state, and they have also selected the authorised Carmanah distributor for Australia, Orion Solar, as their supplier. Carmanah and Orion have responded to an increased demand for solar-powered public lighting with illumination levels that will meet Australian standards, and Orion is now helping many local councils to meet public area lighting needs where grid connection is expensive or difficult to provide. Canada looks to Australia for guidelines on foreign state-owned investment in the resource sector The Canadian government may look to tap into Australia's vast experience in dealing with China's State owned enterprises for developing guidelines on foreign state-owned investment in the resource sector. Current policies issued in Australia by the Foreign Investment Review Board (FIRB) are likely to serve as a starting point for Industry Canada as they refine what it means for an investment to provide a “net benefit” as outlined in the Investment Act (Canada). Australian inspiration to lead immigration reform Federal, provincial and territorial (FPT) immigration ministers have pledged to create a fast and flexible immigration system designed to advance Canada’s economic growth and competitiveness, and respond to regional labour market needs. FPT Ministers committed to work together to develop and implement an Expression of Interest (EOI) model for Canada, similar to a model currently in place in New Zealand and Australia, in a bid to help transform Canada’s immigration system into one that is more responsive to labour market demand, by providing opportunities for FPT governments and employers to access a pool of skilled workers. Canada can learn from Australian healthcare system Australia's universal-access health care system offers important lessons for Canada on health policy reform, argues a new report from the Fraser Institute (an independent and non-partisan Canadian think-tank) titled "Health Care Lessons from Australia". In comparing Canadian and Australian health care, the report highlights that Canadian government health expenditures were 26 per cent higher than Australia's in 2009, and that Canada's health spending as a share of GDP was the highest among all developed nations with universal-access health care. Surprisingly however Canadians are still forced to endure poor access to medical professionals and medical technologies as well as some of the longest waits for treatment in the developed world. Australia's health policy framework differs from Canada's in the following important ways: - Cost-sharing for outpatient medical services - Some private provision of hospital and surgical services - Activity-based funding for hospital care - Broad private/parallel health care sector with taxpayer support and dual practice The report suggests that the Canadian health care system would be greatly improved if provinces adopted reforms based on Australia's proven framework for providing high-quality universal-access health care at reasonable cost. PAGE 2
RECENT EVENTS The Hon. Malcolm Turnbull On the 17th August 2012, the CACC held a lunch event generously hosted by RBC Capital Markets with The Hon. Malcolm Turnbull, Australiaâ€™s Shadow Minister for Communication & Broadband. The event took place at the Hilton Hotel Sydney and was attended by over 100 members and their guests. Malcolm Turnbull was elected to Federal Parliament as the Member for Wentworth in 2004 and was the Leader of the Opposition from 2008 to 2009. Mr. Turnbull participated in the 2nd Australia-Canada Economic Leadership Forum in Toronto in July 2012 and so was able to share his insights from this forum at the event in Sydney.
The Hon. Gladys Berejikilian On the 7th September 2012, the CACC held a luncheon with The Hon. Gladys Berejikilian, New South Wales’ Minister for Transport. The event, kindly hosted by RBC Capital Markets, took place at the Shangri-La Hotel Sydney and was attended by over 60 members and their guests. Gladys Berejikilian was elected to NSW parliament in 2003 as the Member for Willoughby, and has served on the Legislative Assembly’s Public Accounts Committee and the Joint Committee, NSW Valuer General, prior to being appointed a Shadow Minister in 2007. Following the election of the O’Farrell Government in 2011 she was elected as the NSW Minister for Transport. At the luncheon, Ms Berejikilian was able to discuss the Transport Master Plan for NSW in some detail which provided great insight for all who attended the event.
A Day on the Harbour On the 29th November, the Canadian Australian Chamber of Commerce invited sponsors and members aboard the ‘Thalassa’ to spend an afternoon cruising Sydney Harbour to say thank you for all their generous support through out 2012.
Australia Day in Toronto On Friday, January 25th the Canadian Chapter of the CACC and Australian Wine Society held their joint annual Australia Day Dinner at the Albany Club in Toronto. The evening was well attended as usual by members of the CACC and the AWS. The evening started with opening remarks from Malcolm Cox, the President of the AWS, Portia Maier, Austrade’s Consul-General and Greg McNab from the Canadian CACC Chapter. Greg was joined by Richard Kohler and Bob Onyschuk. The evening’s festivities included greetings from the Australian Prime Minister, Australian music and entertainment and a presentation by Emile Studham from Aussie-X, a sports themed corporate event company and a premier sponsor of the dinner. By all accounts, the evening was a successful mixture of business networking and entertainment.
Calin Rovinescu, President and CEO of Air Canada On the 18th December 2012, the CACC and Mario St. Marie, the Consul General of Canada in Sydney hosted a lunch event with Calin Rovinescu, President and CEO of Air Canada. The event was graciously hosted by Air Canada. Calin Rovinescu was appointed President and Chief Executive Officer of Air Canada on April 1, 2009. From 2004 until his re-joining Air Canada, Mr. Rovinescu was a Co-founder and Principal of Genuity Capital Markets, an independent investment bank. Mr. Rovinescu first joined Air Canada in 2000 as Executive Vice President, Corporate Development & Strategy, where he was Chairman of, and had oversight for many of the airline’s businesses including loyalty management (Aeroplan), regional carriers (Jazz) and maintenance, repair and overhaul (ACTS). He also had overall responsibility for a number of corporate functions including Legal, Information & Technology, E-Commerce, People, Labour, Government Affairs, Communications, Alliances and Corporate Secretariat. In addition, Mr. Rovinescu held the position of Chief Restructuring Officer during the airline’s 2003-2004 restructuring. In this role, he worked closely with the Board of Directors and its various committees, the Ontario Supreme Court and the various financial, legal and pension advisors to Air Canada and its various stakeholders. Prior to 2000, he was the Managing Partner of the law firm Stikeman Elliott in Montreal and was a member of the Firm’s Partnership Board and Executive Committee.
Jacques Demers, President & CEO OMERS Strategic Investments On the 14th February 2013, the CACC held a lunch for Mr Jacques Demers, President and CEO of OMERS Strategic Investments, amiably hosted by RBC Capital Markets. Members and guests convened at the Hilton Hotel Sydney to listen to Mr Demers discuss OMERS which is one of Canadaâ€™s largest pension funds with over $55.1 billion in net assets (equity). OMERS provides first-class pension administration and innovative products and services to almost 420,000 members. Through the OMERS Worldwide brand and OMERS Strategic Investments, OMERS Capital Markets, Oxford Properties, OMERS Private Equity and Borealis, the team of investment professionals uses a direct drive, active management investment strategy to invest in public and private market assets, including publicly-traded equities, fixed-income, infrastructure, private equity and real estate. Mr Demers is advancing OMERS global footprint (with OMERS Worldwide offices now in Calgary, London, New York City and Toronto) by building long-term strategic investment platforms, including OMERS Energy, OMERS Ventures and others, and developing relationships with, and sourcing and creating attractive investment opportunities in collaboration with, other long-term institutional investors globally.
UPCOMING CACC EVENT
TUESDAY 19TH MARCH 2013 Mark Wiseman President & CEO Canada Pension Plan Investment Board Proudly Sponsored By
Tuesday 19th March 2013 12pmâ€”2pm
KPMG 10 Shelley St. Sydney NSW 2000
Canadian Australian Events of Interest International Ice Hockey Canada vs USA 22 June 2013 6:30pm Allphones Arena, Sydney
April 5th—April 6th Edgewater Casino 311-750 Pacific Blvd. S. Vancouver, British Columbia Canada Website: www.edgewatercasino.ca
Australia is gearing up to host Canada and the USA in an exhibition ice hockey match in June. The teams will be compiled of players from professional North American leagues and will showcase the infamous rivalry of Canada and the USA in Australia’s biggest and best sporting arenas. Visit www.internationalicehockey.com.au for more info.
Jeff Wall Exhibition 24th April—28th July 2013 Museum of Contemporary Art, Sydney Jeff Wall is a Canadian Contemporary artist and critic known for his large back-lit photographs and cinematographic approach to constructing images.
The Canadian Australian Chamber of Commerce would like to thank our sponsors for their continued support and generosity