North America market overviewThe North America market offers diverse opportunities for Queensland companies. North America is the state’s fifth-largest1 merchandise trade partner and largest investor. North America remains the largest market for funding and commercialising innovative technologies and already attracts many technology firms from Queensland and Australia.
The Australia-US Free Trade Agreement (AUSFTA) has been in place since 2005 and 97% of Australia’s non-agricultural exports (excluding textiles and clothing) are duty free and two-thirds of agricultural tariffs have been eliminated. There are no restrictions on moving capital in or out of the US or the repatriation of profits. In 2003, a protocol amending the double taxation convention for Australia and the US entered into force followed by an agreement between the Australian and the US government to improve international tax compliance and to implement the Foreign Account Tax Compliance Act (FATCA) on 30 June 2014.
US$58.7Bof investment in
technology 1
64%
TechnologyVenture capital priority sectors are software,
media and entertainment, biotechnology, IT services and industrial/energy. Venture
capital investment grew 66% in 2014 compared with 2013. Seed stage investment declined 20%, with investors moving to less
risky later stage opportunities.
Speciality food, beverage and nutritional products
U.S. consumer sales of natural, organic and healthy food products are forecasted
to expand 64%, from $153B in 2013 to $252B by 2019 (CAGR of 8.6%)1. 81% of
American families purchasing organic food.2,3 Queensland exporters of high-quality, specialty
food products have vast and far-reaching opportunities in the US market with the right
strategy, as US consumers trend towards natural and organic products.
Mining and resources, technologies and products
Lower commodity prices for minerals and energy are driving a desire for innovation and technologies that deliver improved productivity and
efficiency gains. Mexico’s significant mining industry is ripe for improvement in productivities and HSE performance
and Queensland innovative METs companies are well positioned to
deliver these services.
Current opportunities
Future opportunities
North America will be a key partner for companies looking to enter regional growth markets in Central and South America – in many ways the Gateway to the Americas. Its sophisticated capital markets and financial structures provide vital support mechanisms for innovative SMEs to expand into these growth markets. North America is the world’s largest individual economy by GDP but is forecast to be taken over by China and India. It will remain a powerful player in the global economy especially for the development of new technologies and the provision of investment capital.
Natural, organic and healthy food products
are forecasted to expand
US$14.8b
Mexico mining & metallurgical production was
in 20143
$to $252B in 2019
from $153B in 2013 (CAGR of 8.6%)1
Agricultural Technology
Mining & Resources
Technologies BiotechnologyInnovation
Health Services
Trade & Investment Commissioner for North America
Originally from Brisbane, Australia, David oversees the trade and investment portfolio across North America inclusive of the United States of America, Canada and Mexico markets.David advises and supports Queensland companies with their market entry strategy and promotes Queensland’s capabilities across key sectors. Under David’s direction, the North America market has a focus on supporting technology from Queensland including mining technologies, agritech, life sciences, medtech and defence together with traditional industries such as food & beverage and education.In addition, David supports the Queensland Government “Advance Queensland” agenda across North America; supporting international pathways for startups and attracting investment into priority sectors such as biotech, bio-industrial, renewable energy and life sciences.David has extensive commercial experience in the US market in advanced manufacturing servicing automotive, building, construction and retail markets including more recently as the US President of global manufacturer, EGR. David holds a Bachelor of Engineering (Mechanical) from Queensland University of Technology (QUT) graduating with Honors and a Master of Science in Technology Commercialisation (MSTC) from the University of Texas – Austin.
Trade & Investment Queensland, North America Office
5151 San Felipe Street, Suite 1380 Houston, Texas 77056 USA
Trade & Investment Queensland, Brisbane Office
Level 10, 1 William Street, Brisbane Queensland 4000 PO Box 12400 George Street, Brisbane Queensland 4003
David Camerlengo
TradeandInvestmentQld
@tradeinvestqld
+1 832 831 6150
tiq.qld.gov.au
+1 310 321 8690
Trade & Investment Queensland
+61 7 3514 3147
TIQ
-16-
1104
Sources:1. Natural Products Industry Forecast by New Hope Natural Media and Sterling-Rice Group,
NEXT Forecast.2. 2012 estimates from the Organic Trade Association. (US organic food market to grow 14% from
2013-18, Stephen DANIELLS, 03-Jan-2014)3. http://newhope360.com/breaking-news/top-5-natural-food-trends
Key Activities1
2
Mine EXPO – September 2016
Prospectors & Developers Association of Canada (PDAC) Conference – March 2017
South X Southwest (SXSW) – March 2017
Bio International Conference – June 2017
3
4
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