The Northern Territory’s oil and gas industries have supplied thousands of jobs to local Territorians. The territory’s largest oil and gas venture, Ichthys LNG Project, is expected to produce 8.4 million tonnes of LNG and 1.6 million tonnes of LPG per annum; a snapshot of the promising economic opportunity from the region.
The enormous potential for agriculture within the Northern Territory has inspired government and industry to explore more profitable, resilient and sustainable agricultural outcomes. The CSIRO currently estimates that present water infrastructure can only access 10 per cent of all arable land within Northern Australia, reflecting on the untapped production capacity for greater growth and prosperity.
The Agricultural Competitiveness White Paper offers extensive assurance on the value of the territory’s agricultural sector, including a $500 million National Water Infrastructure Fund to help secure farmers’ future water security; $450 million of which has been designated to the construction of national water infrastructure.
The white paper aims to pump more than $4 billion of investment towards the cultivation, viability and sustainability of the nation’s agricultural capabilities. Experiencing above-normal growth in recent years with a 6.5 per cent increase in Northern Territory GSP over the 2013-14 period, the Northern Territory hopes to maintain its advantage with the development of alternative industries.
Supported by the Northern Territory government, the 6th Annual Northern Territory Major Projects Conference is a forum for government and industry to discuss the latest infrastructure and major projects trends within the country, and is set to feature a comprehensive panel discussion on the The Agricultural Competitiveness White Paper and its impact on the Northern Territory.
Northern Australia receives on average more than 7.5 million litres of rainfall every year; comprising of 60 per cent of the national total. In contrast, roughly 65 per cent of the northern Australia’s rainfall evaporates or is used by plants before it can be recharged into groundwater or flow into nearby water streams.
Details outlined within the white paper aim to provide improved legal and tax regulation for farmers, develop sufficient infrastructure for the delivery and irrigation of water, strengthen drought and risk management responses, grant technologies and forums to develop more efficient farming practices, as well as improve ties with other nations to establish international trade partners.
The white paper also provides support for drought preparation, with up to $250 million in Drought Concessional Loans each year over the next 11 years and an additional $35 million for local infrastructure projects to help communities suffering from drought.
Held at the Darwin Convention Centre between the 6th & 7th of October, the two day conference attracts close to 400 delegates annually and is considered the largest major projects conference in the territory.
Prominent members from within government and industry will be sharing their thoughts on The Agricultural Competitiveness White Paper, including Brent Finlay, President of the National Farmers' Federation, Carley Scott, CEO of Developing East Arnhem Land, as well as Tom Ryan, Executive Officer of the Northern Territory Cattlemen’s Association.
Agriculture is not only of particular importance to our national food and water security. It also presents a prime economic opportunity for the exportation manufactured goods and produce to surrounding nations close within the Asia Pacific, especially regarding China’s Maritime Silk Road initiative.
The Northern Australia White Paper, another initiative of the Federal government, also promises exciting opportunities for continuing the financial and economic advantage of the Northern Territory. The 6th Annual Northern Territory Major Projects Conference is being held at the Darwin Convention Centre on the 6th & 7th of October.
Expotrade Australia Pty Ltd
Suite 1, Level 1, 2 Brandon Park Drive
Wheelers Hill VIC 3150 Australia