BHP Billiton Ltd chairman Jac Nasser is upbeat that, despite the heightening currency and global trade disputes, emerging markets from across the world have shown significant and exciting growth prospect.

Speaking at the London annual general assembly of world's biggest resources firm on late Thursday, Mr Nasser admitted that the softening government balance sheets were alarming and could eventually hamper the anticipated recovery by a number of economies.

He stressed that in such scenarios, governments in Europe, the United States and other developed countries were all hard up to maintain fiscal and financial stability while at the same time pressured to deliver sufficient social services.

However, the BHP Billiton chairman is still projecting a breathe of fresh air amidst the weighing down of the economic pressures as he pointed to Brazil, India, Russia, Indonesia, Mexico and Turkey, all countries Mr Nasser said have benefitted from the shift seen in the global economy.

Mr Nasser also used the occasion to highlight his company's displeasure on recent remarks made by Federal Resources Minister Martin Ferguson, which hinted that BHP's mining deal with the government may not be honoured at all, specifically on questions of state royalty tax rates.

BHP Billiton has conceded that the federal government can always exercise its power to modify policy parameters but Mr Nasser argued that Australia's tax measures must be geared towards an emphasis on "the country's international competitiveness and its attractiveness as an investment destination are not negatively affected."

He also cited the fact that BHP Billiton has been the country' largest single tax payer as he stressed that "our highest tax payments are made in Australia."

Mr Nasser emphasised too that BHP's controversial takeover proposal for Potash Corporation of Saskatchewan would not be sustained if the company's shareholders appeared to be in doubt of the benefits that the bid could deliver as he asserted that any BHP initiatives give premium on providing shareholder value and maintaining a high credit rating.

As of 1323 AEDT on Friday, BHP Billiton shares were trading up by 24 cents or 0.58 percent at $41.46.