As the world’s 12th largest economy with a projected 3.5% growth in 2013, the opportunities Down Under are certainly looking up…
Sharing common legal systems, language and societal structure, the UK and Australia have enjoyed a close relationship for many years. Part of this relationship has been built around trade and, in fact, the UK is Australia’s sixth largest two-way trading partner and the leading EU trade partner.
Covering 7.68 km2 with a diverse population of 22.7 million (as of 2012), Australia is a country like no other. Its resilience during the global recession has been nothing short of impressive and with the economy predicted to grow a further 3.5% in 2013, Australia offers UK businesses a dependable market in times of economic uncertainty.
So what are the prospects for British businesses in Australia? Well, there are myriad opportunities across a range of areas. The principal sectors identified as major opportunities for British businesses by UKTI include:
Australia’s enthusiasm to try new products and ideas make it an ideal market to test the international appeal of a product or service. And ranked by the World Bank as the 10th easiest country to do business in and the second easiest in which to start a business, setting up Down Under may be easier than you think.
What’s more, Australia is strategically located on the doorstep of the world’s fastest growing region – the Asia Pacific – providing a gateway to explore other markets, including the emerging markets of Singapore, Vietnam and Thailand. And it’s a particularly attractive base when more than 1 million Australians speak an Asian language fluently.
So, with factors including a shared culture, language and history, and with one million British people living in Australia – more than any other foreign country – the opportunity for businesses to send quality, British goods Down Under are quickly rising.
Australia is our destination focus for the first quarter of 2013. Please follow us on Twitter at @dhlexpressuk where we will be posting more information on upcoming events. We are also using the hashtag #Export13 to collate the latest international trade news. Please feel free to share any news, questions and advice you have using the hashtag.
You can find more guidance about trading with Australia from the following:
- UKTI: working with UK-based businesses to ensure their success in international markets
- British Chambers of Commerce: offering advice and support to British businesses
- UK In Australia: the British High Commission in Canberra, offering help for UK based companies to succeed in Australia.
- Australian British Chamber of Commerce: the ABCC is a leading organisation created to facilitate the development of business relationships among companies operating in Australia.
- Austrade: the Australian Trade Commission is the Australian Government’s trade and investment development agency.