The Australia Gulf Council will hold its inaugural Business Mission to the Gulf States from 5 – 12 December 2010.
The Business Mission will include business summits in Kuwait, Saudi Arabia and the United Arab Emirates.
Future business missions will also include Bahrain, Oman and Qatar.
The Business Mission will be led by Hon Bob Hawke AC and Hon Peter Costello and will include 15 leading Australian business representatives from a range of sectors engaged in Australia – Gulf trade and investment.
Commenting on the Business Mission, former Prime Minister Bob Hawke said: "I am pleased to be co-leading with Peter Costello the Australia Gulf Council's Business Mission to the Gulf States in December this year.
"This Business Mission will undoubtedly build on the already strong economic and cultural relationship Australia has with this region, and will provide an opportunity for individual companies to have exposure to valuable high level business links in order to enhance their market potential," Mr Hawke said.
Former Treasurer Peter Costello said: "Many Australian companies have done well in opening markets in the Gulf region. There is now a great opportunity to tap inward investment from the Gulf region to Australia.
"We have a growth story that is impressive but it is not as well known as it should be. On several visits to the Gulf region I have found there is enormous interest in Australia. We should harness this and develop this opportunity to move Australia and the Gulf region to closer engagement in trade and investment," Mr Costello said.
The Australia Gulf Council aims to increase trade and investment in the Gulf Corporation Council (GCC) states.
The Business Mission is being supported by the Department of Foreign Affairs and Trade (DFAT), including its posts in Abu Dhabi, Kuwait City and Riyadh.
DFAT Secretary Dennis Richardson AO said: "the GCC is one of Australia's most important regional markets, and its importance is set to grow over the next decade.
"The AGC's Business Mission to the GCC, with such distinguished leadership, is both timely and welcome."
Mr Richardson attended as a guest of honour the inaugural AGC luncheon hosted by PriceWaterhouseCoopers.
The Business Mission is also supported by Austrade, The Business Council of Australia and leading corporate citizens from industries including finance, banking, construction, education and transport.
