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Presentation for UKTI Southwest onAustralia & New Zealand Business opportunities

Scott StrainDirector of Trade, Australia and New Zealand

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Why Australia & New Zealand?

• You’ll feel at home immediately:

– Over 1,000 UK companies and more Brits than in any other country

– Very similar business, legal and regulatory culture

• Best performing OECD country economically, with good growth prospects

• Strong Australian & NZ dollar making UK goods and services more affordable

• Closely linked to fast growing Asia-Pacific nations

• Massive opportunities for UK companies in oil and gas, health, ports, infrastructure, ICT, education, low carbon, financial and business services

• Free trade agreements with China, the ASEAN nations and Singapore

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Australia & NZ - an economic snapshot

NZ Australia UK

Population 4.4 million 22.5 million 62 million

Global GDP ranking 55th 13th 7th

GDP growth est. 2012 2.3% 3 % 0.6%

GDP per capita ($US 2011) $36,648 $40,800 $36,600

Ease of doing business (World Bank 2011)

3rd 15th 7th

Unemployment (Sept 2012) 6.5% 5.1% 8.1%

Land mass – sq kms 263,310 7 692 000 000

242 000

Australia – A brief geographical overview

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UK/Australia trade links

• UK exports to Australia grew by over 60% from 2007 - 2011 (to more than £10 billion)

• UK’s overall exports contracted first half of 2012, to Australia rose

• 7th biggest market for services exports and 18th largest for goods

• UK is 2nd biggest foreign direct investor in Australia

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Australia – UK’s top export sectors

UKTI New Zealand – Opportunities for British Business 07/11/2012 8

UK New Zealand trade links

• UK is 3rd largest foreign direct investor in New Zealand (2011)

• UK is NZ’s 7th largest trading partner

• UK export of goods to NZ in 2011 totalled £667 million

• UK exports to NZ primarily from the automotive, pharmaceutical and power generating equipment sectors