It also demonstrates that Australian firms are among the world's most competitive, operating at the leading edge of their industries using world best practices for overseas markets. The compositional change in our exports has been as interesting and important as the directional change. In ten years, manufacturers and services, as a share of total exports, have risen from less than one third to almost half. More than two-thirds of these manufactured exports are elaborately transformed manufacturers. ETM exports, which range from high speed catamarans to specialised telecommunications equipment, are growing even faster than manufactures as a whole - 17 per cent per annum during the last decade.
Services exports are a success story too.
Representing nearly a quarter of total exports, they are worth more than the combined value of coal, gold, wool and beef. Smart Cards will provide an added dimension to our growing international competitiveness across the broad range of our services sector. Conclusion In closing. Their contribution to this product, and to Australia, will help Australians' focus on how best to take advantage of emerging Smart Card market opportunities in the Asia Pacific region. I would like to wish the Forum and its members much success in its export activities.