Trade offices to do the business

Submitted 2/03/2009

PSnews

Two new trade offices in Vietnam and Chile are to be established by the Government to promote trade opportunities.
Trade Minister, Kevin Foley announced the move saying the new offices would open in the coming months. He said South Australia was the first Australian state to establish trade representation in Vietnam.
  "There are significant opportunities in Vietnam and this office will enable South Australian businesses to capitalise on them," he said.
   "By getting ahead of the other States, our businesses will have the advantage of being the first to market."
   Mr Foley said a dedicated South Australian representative will be based at Austrade's Ho Chi Minh City office.
   "I expect the push into Vietnam to create opportunities for the State's agri-business, food and beverage, including wine, education and training, water and related infrastructure and the ICT/electronics sectors," he said
   "Vietnam is regarded as a ‘transition tiger' with its economy growing at up to 7 per cent a year. The country has emerged as a major trading partner with South Australia and the State currently enjoys a trade surplus with Vietnam in excess of $250 million."
   Mr Foley said the establishment of a trade presence in Chile was considered a strategic move in the region.
   "Not only can we capitalise on the potential for two-way investment and joint ventures because of the shared nature of our economies [mining, wine and agribusiness], but we can also use the office as a stepping stone into Brazil, one of the world's fastest growing economies."
   "Chile and Australia are major southern hemisphere mining nations and Chile is a primary target for mining technology products," he said.
   "Such opportunities will only be enhanced once a Free Trade Agreement between the two countries comes into force sometime later this year."
   The South Australian representative in Chile will operate out of Austrade's office in Santiago.
   Mr Foley said that in the 12 months to November 2008, the value of South Australia's overseas goods exports was $10.6 billion, up 12 per cent on the previous 12 months.