A South Australian business delegation in Thailand today will promote the state’s key export sectors to local business and government leaders while examining how we can further exiting $1 billion two-way trade opportunities, building on our 72,000 export-related jobs and economic growth.
Thailand’s growth has been steady over the past 10 years and the region is interested in key sectors including renewable energy, health related property investment, education, smart city initiatives, digital related technology, services, research and development – areas in which SA has proven capabilities.
The six day South East Asia mission is visiting Vietnam, Thailand and Cambodia where across the region significant investment opportunities exist related to food and agribusiness, the visitor economy, tourism infrastructure, advanced manufacturing and financial services.
Thailand is a relatively new market for South Australia and has been building on its strategic geographic location, rich natural resources and efforts to increase trade and foreign capital.
Thailand has a rapidly urbanising population and a growing middle-class with changing consumer spending patterns that combine to represent new markets for the state. The South Australia – South East Asia Engagement Strategy aims to increase the state’s profile and presence in the region and to help businesses gain new markets, strengthen the state’s knowledge base and generate new employment opportunities.
For more information: www.statedevelopment.sa.gov.au/southeastasia
Quotes attributable to Investment and Trade Minister Martin Hamilton-Smith
This trade mission is an opportunity for South Australian exporters to build on existing relationships and create new opportunities. Thailand remains a key market for South Australia due to its proximity and the increasing demand for South Australian goods and services, particularly high quality education.
The current value of South Australia’s two-way trade is almost AUD$1 billion ($974.03 million) and latest ABS figures (2015-16) show that our two-way trade with South-East Asia is in excess of $3.9 billion. Engaging with near overseas regions is vitally important to opening up new markets for South Australian businesses. We also offer extensive support to local businesses looking to expand and be export ready including the structured business missions calendar, Export Partnership Program and Small Business Development grants.