Vol.
8 #1, September 2008
Booming Markets Down Under
"Australia is open for business and seeking American suppliers!" says
Ms. Angela Foley, the Council of Great Lakes Governors Sydney-based
Trade Director. The mining and minerals sectors in particular
(approximately 8 percent of the Australian economy) are booming,
creating supply opportunities for heavy equipment and parts, mine
safety equipment, automated materials handling equipment and mine
planning software. Australia has the world’s largest resources of
lead, mineral sands, tantalum, uranium, silver and zinc, along with
brown and black coal. It is also in the top three for alumina, bauxite,
copper, cobalt, diamonds, gold, iron ore, manganese ore and nickel. As
a result of the resource-led boom, stimulated by especially strong
demand from China, flow-on opportunities exist to supply products such
as supply chain software, environmental compliance technology (clean
air/alternative energy solutions); infrastructure development products
and services (e.g. equipment for ports, security etc). Other sectors
offering opportunities include: IT, machinery, medical, aircraft and
parts, automotive parts, transportation equipment and defense
equipment. Ms. Foley also reminds exporters about the benefits of
the U.S. – Australian Free Trade Agreement which eliminated
import tariffs on 99 percent of American manufactured goods entering Australia
making Great Lakes suppliers even more competitive.
New Zealand is also looking to the U.S. for sources of supply. In
2006-07, U.S. goods accounted for 13 percent of all imports into the country
with opportunities specifically in the areas of aviation parts, medical
and veterinary instruments, IT, hotel and restaurant equipment, food
processing and packaging equipment.
To assist exporters enhance their business relationships with Australia
and New Zealand, the Council will lead a trade mission to Sydney,
Melbourne and Auckland from March 1 – 11, 2009. The
Council’s Sydney office will complete advance market research,
pre-qualify distributors and schedule one-on-one business meetings in
both countries for mission participants. Furthermore, participants will
attend an in-country business briefing on their arrival in Australia
which will provide an overview of local economic conditions, the
logistics of exporting to the region, and the legal aspects of
negotiating agreements and doing business in the region. To learn more
about the trade mission, contact Ms. Susan Dragotta, susan.dragotta@wisconsin.gov, ph: (262) 691-5147.
-- Zoë Munro, Council of Great Lakes Governors Program Manager
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