|
|
 |
|
The French presence
► The French presence in Australia
| Certain French investors in Australia have more than a 100 year history. The first French businessman arrived at the end of the 19th century, keen to exploit Australia’s wool and leather industry. Others soon followed in a range of other industries including sea transport (CMA-CGM) and banking (BNP Paribas). |
With more than 300 subsidiaries employing over 85 000 people, France is today the 7th largest foreign investor in Australia. The majority of this investment is generated by French SMBs and the 50 000 French people currently living in Australia, particularly in the retail or restaurant industries. In turn, Australia is ranked 18th in terms of French investment and represents 0.58% of stocks on the French share market.
Australia is France’s 32nd largest importer and its 51st largest supplier. According to Australian statistics France’s share of the market is 2.3% and is Australia’s 12th largest supplier. In recent years, certain French companies have even become leaders in their industries :
- In the services sector, AXA is one of Australia’s biggest life insurers and Accor owns more than 100 hotels in Australia. Sodhexo, the current market leader in hospitality, employs more than 10 000 employees. Both BNP Paribas and Société Générale hold a significant part of the corporate banking sector. CMA-CGM, following the purchase of international lines of ANL, has become Australia’s number one company in maritime transport. The Accounts and Deposits Fund, by means of its subsidiaries Egis and Transdev, guarantees the management of several tollways in Sydney as well as the Tram network in Melbourne (Yarra Trams).
- In the environmental sector, Suez accounts for close to 90% of Sydney’s drinking water supply, and holds an important part of the waste disposal market via its subsidiary SITA. Veolila Environment is present in Australia in the water and waste disposal industries, and in passenger transport (Connex operates Melbourne’s train network).
- In the agri-food sector, Pernod Ricard is the largest exporter of Australian wines since its acquisition of Orlando Wyndham. Moët et Chandon is a major producer of Australian wines. Chargeurs is the number one exporter of Australian wool.
- In the aeronautic and defence sectors, with the strong presence of EADS via its subsidiary Eurocopter (Australian Aerospace) and Thalès, has become the biggest industrialist in Australian defence following the repurchase of ADI (Australian Defence Industries).
For 10 years now, commercial relations between the two countries have been structurally weighted in France’s favour. Since 1998, France’s trade surplus has increased significantly, reaching a peak in 2004 and 2005 (1.4 billion Euros). It has been supported by the increase in exports of certain intermediary products, such as metals, as well as consumer goods including pharmaceutical, perfume and automobile products.
ADVERTISEMENT
 |
 |