In Brief - news briefs from Asia - Brief Article

Business Asia, June, 2000

JAPAN'S TOYOTA Motor will launch the Avalon luxury sedan in Australia on July 1, a move to challenge the dominance of General Motors and Ford Motor in the Australian market's luxury segment. Toyota Motor Australia Ltd, a subsidiary of the leading Japanese automaker, will shortly begin manufacturing the Avalon, which has an engine displacement of 2995cc, at its Altona plant in Melbourne. First-year sales are estimated at 24,000 units, with about 1000 units to be exported to New Zealand, company officials said. The Altona plant currently manufactures the Camry passenger car, which is sold in Australia and exported to 31 countries.

-- Asia Pulse

AUSTRALIAN COMPANIES should position themselves now for opportunities in China, the Victorian Employers Chamber of Commerce and Industry (VECCI) says. VECCI senior consultant international trade Philip Webley says Australian exporters must be prepared to spend time and resources to locate the right partners in China and to have the patience to negotiate a successful outcome. The imminent entry of China into the WTO is expected to present huge medium-term opportunities for Australian companies. Between now and 2005, tariffs will be slashed on a wide variety of products, and all import quotas will be abolished.

CHEMICALS AND explosives giant Orica Ltd has stamped its presence in the world's largest commercial explosives market with the opening of a plant in China. The Weihai plant will give Orica access to a commercial explosives market currently valued at US$1 billion, which is expected to grow rapidly with the development of Chinese open market reforms. Orica, which has its origins in Victoria in the 1800s, has an 80 per cent equity stake in the joint venture.

-- Asia Pulse