UK and Europe

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.

Digital technologies

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.

New energy

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.

Tourism and international education

Increased air capacity saw close to 450,000 tourists from the UK visit Melbourne in 2015 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.

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 base

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.

Fast facts

  • The UK is the second largest foreign investor in Victoria.1
  • Germany, France, Spain, Italy and the Netherlands are in the top 11 investors in Victoria.2
  • Around 450,000 tourists visit Melbourne and regional Victoria each year – of which approximately 200,000 are from the UK.3
  • The development of 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.
  • Victoria's merchandise exports to the UK and Europe were valued at A$1.6 billion in 2015-16, up 27 per cent from the previous year.4

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 and Frankfurt. VGTI 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.

Source:

  1. fDi Markets 2016
  2. fDi Markets 2016
  3. Tourism Victoria Research Unit, August 2016
  4. DFAT STARS Database, based on ABS Cat No 5368.0, June 2016 data