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European Australian Business : 2008
35 new south wales and global or Asia Pacific regional operating centres in Sydney. Such groups include: ABN AMRO Bank, Bar- clays, BNP Paribas, Calyon, Deutsche Bank, ING, NM Rothschild and Sons, Rabobank, Royal Bank of Scotland, Societe Generale, UBS and West LB. Some of the activities conducted here by these and other European compa- nies are: n In 2003, Deutsche Bank established a Global Technology and Operations Centre in Sydney. The Centre em- ploys 180 people in high-value global technology and operations jobs in Sydney, in information technology, operations and corporate services. n In 2003, UBS created up to 240 jobs (currently around 200) when it opened its global technical support centre and other IT functions in Sydney. The Global Service Centre provides first line support for UBS Invest- ment Banking employees globally and represents the organisation’s latest investment in creating a hub of technology support services. n Opening in 2000, Reuters in Sydney currently employs about 360 people, of whom about 160 are in Asia- Pacific regional roles, providing export services for NSW, including account management functions, customer ordering and billing, busi- ness administration and Japanese translation services to editorial teams. Manufacturing New South Wales is a leading aero- space location in Asia Pacific. There is significant opportunity, with Australia representing one of the largest general aviation markets in the world. New South Wales is a leading exporter of aircraft components. It is the loca- tion of plants for the following aircraft manufacturers: n BAE (aircraft factory in Newcastle); n GKN (design facilities); n EADS; n Turbomeca (gas turbine factory which assembles, tests and overhauls civil and military helicopter engines); n Airbus (aircraft components. The wing tips and wing fences for the A380, the world’s largest civil aircraft, are manufactured in Sydney at Hawker de Havilland. With the Australian Defence Force engaged in a $51 billion equipment acquisition program from 2006 to 2016, there are strong prospects for defence-related industries. Key European defence companies lo- cated in NSW include French company Thales, which operates Australia’s largest dockyard in Sydney. Thales’ Ocean Lab has a significant experi- mentation and modelling environment dedicated to underwater battlespace. Because of its location in the southern hemisphere, NSW is ideally positioned to produce and process food and bev- erages for markets in Europe during the northern winter months. Some leading European food compa- nies in NSW are Ferrero (confectionery), Lindt & Sprungli (confectionery), Nestle (ice-cream, meals, chocolate) and Unilever (dairy, soups, meals). Other key segments of the manufac- turing industry in NSW are automotive components, marine, medical devices (Cochlear, ResMed, Ventracor), and pharmaceuticals (Merck, Pfizer, As- traZeneca and GlaxoSmithKline). Exports and imports The NSW Department of State and Re- gional Development works closely with the business community to promote export opportunities to high potential and emerging markets, including Europe. In 2006-07, NSW exported goods worth a total of $2.3 billion to Europe. The State’s top five markets in Europe are the United Kingdom, Italy, Nether- lands, France and Belgium. New South Wales imported goods worth a total of $18 billion from Eu- rope. Europe accounts for nearly 26 per cent of total NSW imports. The top five sources of imports were Germany (more than 20 per cent), the United Kingdom, Italy, Ireland and France. Entertainment, design and media Most of the world’s top information and communications technology (ICT) companies in Australia are based or headquartered in Sydney. These include European companies such as Nokia, BT, SAP and Sophos. NSW has the largest number of spe- cialist ICT businesses in Australia and 41 per cent of the nation’s ICT employ- ment. Australia ranks second in the world (and ahead of the UK) as a centre for ICT research and development opera- tions, according to a study undertaken in 2004 by the Economist Intelligence Unit. NSW – AAA Credit Rating