Looking Forward as Markets Re-Open: A Look at Australia & New Zealand
May 29, 2020
Australia and New Zealand have weathered the crisis relatively well compared to other nations. Lock down restrictions are being reduced for people and businesses to help speed up a return to “normal”.
The IMF have forecast that the Australian and New Zealand economies will see rebounds in growth in 2021 ( +6.7% Aus and +5.9% New Zealand) and we are seeing evidence of Federal and State governments increasing and fast-tracking initiatives and spending to help stimulate the economy.
As a way of example:
- The federal government has announced that they remain committed to delivering its planned $100B AUD ($65B USD), 10-year infrastructure pipeline;
- Australia’s largest State (New South Wales) has started to fast-track construction & building projects whilst also investing $44M USD in urban public infrastructure directly. Since January 2020 they have approved 142 major projects injecting $2.5B USD into the economy;
- Six new patrol boats will be built under a fast-tracked $228M USD defence project; and
- The Australian Government is investing heavily in its Advanced Manufacturing capabilities with an emphasis on health, defence, and cyber.
Both Australia and New Zealand are also very heavily reliant on imports and are actively seeking greater geographical diversification in their supply chains to protect and grow their businesses. With the U.S. a trusted trading partner this could open new opportunities for Virginia exporters.
In this webinar we will cover:
- The current environment in Australia and New Zealand – how we have weathered the crisis and why the economies are expected to bounce back
- What data you should gathering to help you select and prioritize key overseas markets
- What has changed in our environment and in the mind-set of potential customers
- Sectors of opportunity including: Defence and Security, ICT, Advanced Manufacturing, Industrial Equipment, Agriculture, Health
- Tips on how to assess the Australian market and engage with current and future Australian partners/customers
We have partnered with Foley & Associates to learn more.
- Angela Foley, Managing Director
- Jenny O’Sullivan, Senior Advisor – International Trade & Investment