South Australian businesses are set to grow their exports to Europe with the establishment of a trade and investment office in Paris, as part of the Marshall Liberal Government's upcoming State Budget.
The establishment of a trade and investment office on mainland Europe expands on the Marshall Government's election commitment to grow South Australia's overseas trade representation across the globe.
A $1.8 million investment over four years will deliver a European focussed trade and investment office which will support South Australia's international trade and investment outcomes post Brexit, and as we emerge from the global COVID-19 pandemic.
The Minister for Trade and Investment Stephen Patterson said an expanded overseas trade and investment office network was critical to growing SA's exports and ensuring the state's ongoing economic and jobs growth.
"In a post Brexit trade landscape, it's crucial that South Australia has a continued presence in the UK through the office of the Agent-General as well as a strong presence in the European Union through the new Paris office," Minister Patterson said.
"This will grow our capacity to reach emerging markets in Europe by focusing on two-way trade and investment, and by driving services exports in key sectors for South Australia like hi-tech, creative industries, renewable energy, and space and defence."
Europe is a key market region for South Australia, with the European Union routinely in the top 5 export destinations for SA goods and services – with the value of SA exports to the EU exceeding $700 million in the year to April 2021.
"South Australia's relationship with France has been strengthened through the nation's Future Submarine Program to be delivered in partnership with Naval Group, and we want to deliver further trade and investment opportunities through this strong bilateral relationship," Minister Patterson said.
"We are also anticipating further trade opportunities for our exporters through an expected Free Trade Agreement with the EU and the in-principle agreement struck with the UK, with a focus on South Australia's premium food and wine and agricultural products.
"This dovetails nicely with our $5.4 million wine export recovery and expansion program which is supporting the SA wine sector while helping to sustain and create jobs, by expanding business-to-business opportunities, brand promotion, wine education, and international trade visits, when international travel opens back up.
"The Marshall Government's policy of opening up new trade offices is in direct contrast with that of the former Labor Government which closed trade offices – this new office in Paris joins our network of new and existing trade and investment offices across the globe.
"Our Budget for a stronger South Australia is creating jobs, building what matters and delivering better services to further secure our state's growing global reputation as one of the safest and most attractive places in the world to live, work and raise a family.
"By establishing this new trade and investment office in Paris we're continuing to grow SA's trade representation, which is backing our exporters to grow their businesses, create more jobs and grow the South Australian economy."
