Korea

As the fourth largest economy in Asia and with a population of over 50 million people, Korea's increasing demand for high-quality goods and services has provided key export opportunities across a range of Victoria's market sectors.

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India

India International education India is home to the largest youth population in the world and millions of young Indians are seeking education and training abroad or are looking towards recognised international brands who deliver in India or online. Victoria remains well placed to capitalise on this and remains the preferred destination for Indian students looking to study in Australia. The Indian Government’s new emphasis on skills training and job creation for its growing workforce provides new opportunities for Victoria’s Vocational and Education Training sector. Food and fibre India’s increasing urbanisation and higher income levels are reshaping local consumer preferences and consumption patterns, creating new demand for premium food and beverage products. Victoria’s reputation as a supplier of high-quality, clean agricultural products, combined with advantages in supply chain management makes Victorian products attractive to Indian consumers. There is increasing demand for high- value dairy and premium food and wine products alongside traditionally successful unprocessed exports such as pulses, nuts and grains. Infrastructure and professional services Rapid upgrades to India’s core infrastructure over the next decade will stimulate major demand across all construction, design and urban planning sectors. Victoria is known for building high-quality, innovative infrastructure as well as delivering world-class professional services and expertise to deliver smart, sustainable urban design solutions. Medical technology, pharmaceuticals, healthcare and clean technologies Victoria’s leading medical and pharmaceutical industries are well positioned to meet the healthcare needs of the growing population through provision of innovative products, technology and pioneering research collaboration. Digital technology The Indian Government sees the digital economy as a major growth enabler and is seeking rapid digitisation across the public and private sector. With one of the fastest uptakes of Internet and mobile phone technology globally, there are significant opportunities for Victorian tech companies and start-ups to assist India’s digital transformation. Fast Facts India’s economy is worth $1.8 trillion and is predicted to become the third largest global economy by 2030. India is home to 1.2 billion people – with almost two-thirds of the population under 35. India’s future economic growth is concentrated in its growing mega-cities such as Mumbai, Delhi, Bangalore and Chennai, which have populations of over 10 million people. Victoria’s two-way goods trade with India was $1.5 billion in 2015-16. International education represents over half of Victoria’s goods and services exports to India. India is a growing market for Victoria’s visitor economy – spending a total of 5,104 nights in 2015. Victoria is home to the largest Indian diaspora in Australia, which represents a significant advantage for long-term economic cooperation and exchange. Want to find out more about how your business can export to India? Asialink’s India Starter Pack provides a comprehensive guide to doing business in India. The Victorian Government Business Offices (VGBOs) in Bangalore and Mumbai can provide tailored market intelligence, insights and guidance for your export business, as well as connect you with overseas buyers and industry partners. Austrade India Market Profile provides further detail and facts on the Indian market.

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UK and Europe

Significant trade and export opportunities already exist for Victorian businesses with the UK and Western Europe markets. New export opportunities are now emerging for high-quality goods and services across a range of key market sectors.

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Middle East, Turkey and Iran

Covering a vast and diverse region, the Middle East, Turkey and Iran are important economic partners for Victoria. With strong economic and population growth provides key export destinations across a range of Victorian industry sectors.

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Africa

Sub-Saharan Africa Sub-Saharan Africa has an abundance of natural resources, half the world’s unfarmed arable land and a young, growing population of almost a billion people. These factors are driving growth for high quality commodities and services that Victorian businesses are well positioned to provide. Opportunities exist for Victorian businesses to export across a range of industries including: Agribusiness and water technology The need to increase agricultural yields and improve water and irrigation practices and infrastructure across the region provides key opportunities for Victorian businesses to export their world-class expertise and technology in the agribusiness and water sectors. Tourism and major events South Africa is hosting the 2022 Olympic Games, providing an opportunity for experienced Victorian businesses to supply products and services in sports infrastructure and construction and major event management. Infrastructure and mining Development across Africa is creating increased demand for infrastructure and mining knowledge and expertise. There are export opportunities for Victorian businesses to provide high quality and innovative infrastructure solutions and consultancy services in countries such as Kenya and South Africa. Healthcare services The African Union’s Health Strategy (2016-2030) aims to strengthen system performance, increase investment in health, improve equity and address social determinants of health to reduce priority diseases burden by 2030. Victoria’s healthcare, medical, pharmaceutical and biotechnology industries are well positioned to help deliver on the aims of this Strategy. International education/VET There are opportunities in the African education sector around higher education specifically in the field of staff exchange and research collaboration. Nigeria and Kenya are key markets for student recruitment and student exchange. Fast Facts Victoria’s total exports to Sub-Saharan Africa were $265 million in 2015-16. The World Bank forecasts that between 2014 and 2017 six of the ten fastest-growing economies in the world will be in the region, including: • Cote d’Ivoire • Democratic Republic of Congo • Ethiopia • Mozambique • Rwanda • Tanzania In 2016, Sub-Saharan Africa’s combined GDP was estimated at US$1.4 billion, greater than that of Russia. Sub-Saharan Africa has abundant natural resources, including half of the world’s unfarmed arable land. Want to find out more about how your business can export to Africa? The Victorian Government Business Office (VGBO) in Dubai can provide tailored market intelligence, insights and guidance for your export business, as well as connect you with overseas buyers and industry partners in Africa. Austrade Market Profiles provide further detail and facts on many African markets.

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Latin America

With a growing middle class and a population of 633 million, Latin America provides exciting export opportunities for Victorian businesses across a range of key industry sectors.

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