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Press Release
FALKLAND ISLANDS FORUM
'OPPORTUNITIES FOR THE FUTURE'
18 April 2007
Today, the Falkland Islands Government is hosting a business Forum at the QEII Conference Centre, London. The Forum will focus on the economic achievements of the last 25 years and the potential for the future.
Over 200 delegates, including representatives from the international business community, politicians, academics and the media, are expected to attend the event to learn about the Falkland Islands’ vibrant economy and opportunities for investment in key industries including oil and minerals, tourism, fisheries and agriculture.
Before 1982, the Falklands economy was in serious decline. The Islands were reliant on the export of wool and GDP stood at approximately £5 million. Twenty five years on, the Falklands boast a GDP of £75m and the economy has flourished as a result of diversification initiatives and inward investment.
Today, traditional sheep farmers are involved in the development of a world-class meat export industry; tourism is the fastest growing sector with visitor figures rising each year; the Falklands fishery, which provides the main source of income for the Government through the sale of fishing licenses, is celebrating its 20th anniversary; and the Islands are an attractive frontier area for offshore and onshore mineral exploration. The exploitation of oil deposits off-shore could prove to be the Falklands’ most lucrative industry yet.
The Falkland Islands Government (FIG) is committed to securing the Islands long term economic sustainability in partnership with the private sector. The involvement of almost 20 commercial sponsors in the Forum is testament to the strong business links the FIG has forged with both local and international companies. The Government has invested in the Islands' infrastructure and transformed transport links, including air access and connection to the worldwide containerised shipping network. In turn, the thriving business community has created employment and contributed to the Islands' remarkable economic growth.
Sukey Cameron MBE, Falkland Islands Government UK Representative said: "It is twenty five years since the Conflict with Argentina. Without the sacrifices made then to secure our freedom, we would not be where we are today. This business forum provides an opportunity to take stock of our economic achievements since 1982 and to consider our future potential. It is also an occasion for us to share a picture of the modern Falklands with the world. We are self-sufficient, self-determined and excited about our future prospects for development."
At the event delegates will participate in plenary sessions on the Islands' economic, social and political developments and listen to in depth industry focuses on fishing, aquaculture, oil and mineral exploration, tourism and agriculture. The sessions will be led by keynote speakers from the Islands public and private sectors and from the UK Government.
Notes to Editors:
Falklands Forum 2007
- Please note that following the Forum delegates are invited to attend a parliamentary reception at the House of Commons from 1800hrs - 2000hrs kindly hosted by Sir Nicholas Winterton MP.
- To attend the Forum contact on +44 (0) 20 7344 1345 or email anne.baxendale@edelman.com.
- To find out about sponsorship opportunities or to exhibit please call Frances Knox on 020 7287 0652 or email frances@keenepa.co.uk.
- Media: Forum press passes are available on request, please contact Frances Knox on 020 7287 0652 or email frances@keenepa.co.uk.
Background on the Falkland Islands
- The Falkland Islands are economically self-sufficient in all areas except defence - the cost of which amounts to some 0.5% of the total UK defence budget.
- The Falkland Islands are situated in the South Atlantic, some 400 miles away from the South America mainland and 850 miles north of the Antarctic Circle. They are located on the same latitude south as London is north.
- The archipelago consists of two main islands (East and West Falkland) and 778 smaller islands, with a total land area of approximately 4,700 sq miles, just over half the size of Wales.
- The Falkland Islands are self governing except for areas of foreign affairs and defence. Eight democratically elected councillors comprise the Legislative Council.
- The Falkland Islands Government believes that the Islands can combine economic growth with conservation of the environment - unique and unspoiled - while maintaining its essential character.
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