Global investment outlook in focus
The global trade and investment outlook; trade negotiations, foreign investment policy and a collaborative approach to international economic engagement are the focus of today’s national Trade and Investment Ministers’ Meeting in Darwin.
South Australia’s Trade and Investment Minister Martin Hamilton-Smith is taking part in the meeting with his federal and interstate counterparts and senior trade and investment officers. .
Minister Hamilton-Smith said he was looking forward to discussing the positive impact Federal Trade Agreements have had on the competitiveness of Australian exports and enhancement of the attractiveness of Australia as an investment destination.
The meeting will also have a defence focus, with discussion about defence procurement opportunities and frameworks for cooperation across the states and territories in relation to commercial opportunities arising from defence procurement.
The meeting follows last week’s release of the South Australian 2017 Investment and Trade Statement which highlights the great strides the state has made in growing exports, establishing and broadening its international engagement and connections.
Highlights from the statement for 2016 include:
- Jobs linked to export activity have risen from 65,000 to 72,000
- 318 local companies took part in six business missions into 13 countries
- More than $8 million in direct export deals were completed during those missions and many more will follow
- In China alone, 730 new business connections were made along with 205 export leads with an estimated value of $50 million
- SA’s merchandise exports are up to more than $11.5 billion in 2015-16.
In the 16 months since the establishment of Investment Attraction SA there has been more than $1 billion of investment, representing 14 projects and more than 4800 jobs.
Next month Minister Hamilton-Smith will travel to the Middle East and North Africa to explore new export markets.
The state’s 2017 business mission calendar also includes further delegate missions to South East Asia, China, Europe, USA, North Asia and India.
Mr Hamilton-Smith said the South Australian Government recognised the importance of national and international trade and investment connections and alliances for the state’s economic prosperity.
“We will continue our strong commitment to enhancing its export markets,” he said.
“Engaging with overseas neighbours is vitally important for the ability of South Australian businesses to open new markets, remain globally competitive and create jobs.
“The South Australian Government is focused on maximising the increases in our exports, direct foreign investment, and the benefits to the State from our skilled and business migrant intake.
“We also welcome discussion about increased coordination across the states and territories to maximise the commercial opportunities arising from defence procurement for Australian companies,” Mr Hamilton-Smith said.
The full 2017 Investment and Trade Statement can be downloaded from our Publications page.