Australia's balance-of-payments problem

The Secretary (Science Policy) of the Australian Academy of Science, Dr Keith Boardman, welcomed participants to the 57th National Science and Industry Forum and laid out the challenges that confronted the participants.

The National Science and Industry Forum was established in March 1967 by the Australian Academy of Science. The aim of the Forum was to bring together leading scientists, heads of industrial organisations and other community leaders with the object of increasing mutual understanding and developing mutual assistance.

From the beginning, membership included leaders of industry and commerce, senior officials from relevant government departments and industrial scientists as well as Fellows of the Academy of Science. The Forum has been supported by annual contributions from the institutional members from industry and commerce and government departments and agencies. The Academy is very grateful for this continuing support.

I believe that the Forum has achieved what it set out to do in increasing the mutual understanding between the groups of people involved.

The first five meetings of the Forum were devoted mainly to discussions of working groups, particularly on science policy advice and the training of scientists. The ultimate establishment of the Australian Science and Technology Council can be traced back to discussion at the first Forum.

It will be of interest to this particular Forum on enhancing Australian chemical manufacture that the concept of a more secure banknote arose during those early discussions of the Forum and led to the development of the plastic note by David Solomon and his team.

The subject of today's Forum is topical and very important in view of Australia’s chronic balance-of-payments problem. The accompanying table (627k) shows Australia's merchandise exports and imports by commodity. By far the largest deficit is machinery and equipment, then miscellaneous manufacture articles followed closely by chemicals, which account for $2.6 billion of exports, but have a deficit of almost double that.

The purpose of this Forum is to examine Australia's capability in chemical manufacturing and how it can be enhanced to reduce or overcome the chemical deficit. The outcome should be in the form of positive proposals that can be put to government and industry.

The Academy is very grateful to its National Committee for Chemistry for its initiative in suggesting this Forum. Particular thanks are due to Professor Graham Johnston from the University of Sydney, Dr Greg Simpson and Dr Tom Spurling, both from the CSIRO Division of Chemicals and Polymers, for assembling such an excellent program of speakers to examine the topic.