states to promote aussie biotech

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    States join on biotech

    JUNE 13, 2003

    THE governments of Queensland, New South Wales and Victoria have agreed to take a joint approach in promoting Australia's biotechnology to the world.

    Premiers Peter Beattie, Bob Carr and Steve Bracks signed a joint memorandum of understanding in Melbourne to create the Australian Biotech Alliance which will implement the idea.
    Biotechnology, which involves employing living organisms and biological processes to develop new products and remedies, is one of the fastest growing research areas and has become a boom industry, employing about 30,000 people in Australia alone.

    The Premiers say individual states have little chance of making an international impression in attracting venture capital, for example, but Australia makes for a powerful brand statement.

    They announced that Premiers Beattie and Bracks will promote the new alliance at the international biotechnology conference, Bio2003, being held in Washington DC later this month.

    The Associated Press

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