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Paul Madden

British Ambassador to Japan

Part of UK in Australia

21st October 2013

Reserve Bank of Australia Governor praises UK contribution to Australian economy

The success of the modern Australian economy reflects in part the legal and governance structures flowing from its British heritage, RBA Governor Glenn Stevens told the Australian British Chamber of Commerce at a packed Sydney lunch last week.

Reserve Bank Governor Glenn Stevens with HE Paul Madden
Reserve Bank Governor Glenn Stevens with HE Paul Madden

In a fascinating speech the Governor outlined the history of the economic relationship between the two countries. He noted that although first the US then Asian markets gradually became larger trading partners, Australia’s economic ties with Britain remain strong and vital today. UK investments in Australia amount to around $500 billion, and the UK represents the second largest destination for Australia’s outward investment.

He also said that the UK and Australia “share an outlook, at a very basic level, on how an economy should be organised and governed” and this enabled very close co-ordination between regulators and economic policy makers. Australia’s imminent G20 presidency would be a good opportunity to work together on important issues like the implementation of the financial regulation reform agenda.

In my speech proposing a vote of thanks to the Governor, I echoed his comments about the opportunities for cooperation on G20, noting that we had had a team of officials from London in Canberra earlier in the week for  preliminary discussions on G20.

About Paul Madden

Paul Madden has been the British Ambassador to Japan from January 2017. He was Additional Director for Asia Pacific at the FCO in 2015.He was British High Commissioner to Australia…

Paul Madden has been the British Ambassador to Japan from January 2017.

He was Additional Director for Asia Pacific at the FCO in 2015.He was British High Commissioner to Australia until February 2015. Prior to this he was British High Commissioner in Singapore from 2007-2011.

A career diplomat, he was previously Managing Director at UK Trade and Investment (2004-2006), responsible for co-ordinating and
implementing international trade development strategies to support
companies across a wide range of business sectors.

As Assistant Director of Information at the Foreign and Commonwealth
Office (2003-2004) he was responsible for public diplomacy policy,
including managing the FCO funding of the BBC World Service, the British
Council and the Chevening Scholarships programme. He led the team
responsible for the award-winning UK pavilion at the Aichi Expo in Japan
2005.

He was Deputy High Commissioner in Singapore from 2000-2003 and has
also served in Washington (1996-2000) and Tokyo (1988-92). Between
1992-96 he worked on EU enlargement and Environmental issues at the FCO
in London.

Before joining FCO he worked at the Department of Trade and Industry
(1980-87) on a range of industrial sectors and trade policy, including
two years as a minister’s Private Secretary.

He has an MA in Economic Geography from Cambridge University, an MBA
from Durham University, studied Japanese at London University’s School
of Oriental and African Studies, and is a Fellow of the Royal
Geographical Society. His first book, Raffles: Lessons in Business
Leadership, was published in 2003.

Married to Sarah, with three children, he was born in 1959, in Devon.

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Tags

australia G20 trade