Significant trade and export opportunities already exist for Victorian businesses with the UK and Western Europe markets. However, as technology continues to advance and trade barriers further reduce, new export opportunities emerge for high-quality goods and services across a range of Victoria's key market sectors.
Opportunities exist for Victorian businesses to export across a range of industries including:
Medical technologies and pharmaceutical products
Melbourne's biotech, medical technology and pharmaceutical businesses have a global competitive advantage as world leaders in research and development and are strongly positioned to meet the UK and Europe's growing demand for innovative products and services – particularly biotech, medicaments and medical devices.
Substantial growth in the Digital Single Market and e-commerce is driving substantial export opportunities for Victoria's cutting-edge and innovative Information and Communications Technology (ICT) sector. Austrade's Berlin Landing Pad provides a collaborative global workspace for Victorian startups to break into the European market.
Food and fibre, and retail
Significant foreign investment into Victoria's food and fibre, and retail sectors provide key opportunities for Victorian businesses to build stronger trade links with the UK and Europe. As producers and providers of some of the world's cleanest, healthiest and premium food products, Victoria's agribusiness is competitively placed to meet Europe's growing demand for quality foods, including fruit and nuts, wine and oils.
Melbourne is a powerhouse of clean energy innovation, and as the international demand for new energy alternatives continues to increase – the Victorian new energy technologies sector is strongly placed to provide expert knowledge and innovative solutions to address how the UK and Europe produce and consume their energy.
In 2017 there were approximately 229,400 UK and 331,300 European overnight visitors to Victoria providing significant opportunities for Victoria's tourism and hospitality businesses to increase their customer base.
Victoria's Higher Education and Vocational and Education Training (VET) providers are globally recognised for delivering world-class international education services. Export opportunities have emerged for Victoria's international education sector to expand their business into the Eastern European market as the demand in the region continues to rise.
- Subscribe to the International Education Bulletin for monthly market updates
- Contact Victoria's in-market Education Services Managers PDF, 3.3 MB
Defence and advanced technology
The Australian Government's selection of French company DCNS to design 12 submarines has provided key opportunities for Victorian research, design and development specialists. Opportunities have also opened up for advanced manufacturing and small technology businesses to export their expertise and skills to Europe.
Victoria as a gateway to Asia
The Victorian Government is working to encourage European businesses to base their Asia-Pacific operations in Melbourne making it easier for Victorian businesses to establish important commercial partnerships with companies seeking to access their expertise and enter export markets in the region.
- The UK is the second largest foreign investor in Victoria.
- The European Union (EU) accounts for 40 per cent of foreign direct investment into Victoria, with Germany, France, Italy and Spain among the largest investors from the EU.
- In 2017 there were approximately 2,9 million international overnight visitors to Victoria of which 229,400 were from the UK and 331`,300 from Europe
- Negotiations for a joint Australian-European Union Free Trade Agreement has commenced, aiming to reduce non-tariff barriers and improve market access for services and agricultural products.
- The EU was Victoria's second largest trading partner (behind China) with two-way merchandise trade worth $14.3 billion in 2016-17. Total two-way trade with the UK in 2016-17 was valued at $2.2 billion.
Discover how your business can export to the UK and Europe
- The Agent-General for Victoria based in London represents Victoria in the UK, Europe and Israel through the Victorian Government Trade and Investment (VGTI) offices in London. Our VGTI office can provide tailored market intelligence, insights and guidance for your export business and connect you with overseas buyers and industry partners.
- Austrade's UK Market Profile provides further detail and facts about the UK market and many other European markets.
- The Victorian Government provides support through a range of grants, vouchers and assistance programs.
- The International Chamber House (ICH) in Melbourne's city centre is a business networking hub for international bilateral chambers and business associations. It provides members access to meeting rooms with video-conferencing, flexible workspaces and a function space for international business development events. The British, French and German Chambers are all housed at ICH.
- Visit our regional insights page and read current updates from our Regional Specialists located across the globe