NT resources sector not concerned about Japanese downfall
Posted
The Northern Territory Resources Council says a recession in Japan should not have a lasting impact on NT resource exports.
Japan is now officially in a recession and economists say this will affect demand for Australian exports.
Resources council CEO, Scott Perkins says Territory companies will be actively seeking other markets, such as China.
"In terms of individual sectors, you'll inevitably see some form of decline, but generally speaking I think that the Northern Territory's pretty well positioned to weather out this storm in respect of resources," Mr Perkins said.
"China has announced very recently a package in excess of US$700 billion to promote internal consumption and we understand that most of that is going to go towards infrastructure development, so we could expect that the demand from China is at least going to stay the same for the next couple of years," he said.
Search for news
ABC News Online takes a look at the big stories from 2008.
