Latin America, consisting of 20 countries and a combined population of more than 590 million people, is a key emerging market for Queensland. Latin America has experienced significant growth over the last decade. This combined with a relatively young population and a growing middle class, means a strong foundation for the continued economic growth of the region in the long term.
Trade and Investment Queensland has targeted Latin America for a number of years and the new Queensland Trade Investment Strategy 2011-2016 maintains this focus. Queensland is widely recognised as one of the most proactive Australian states in fostering business relationships in the region. The Queensland Government has forged strong links at a government-to-government level through strategic agreements signed with the State of Minas Gerais in Brazil, the United Mexican States, the State of Antioquia in Colombia, and the State of Antofagasta in Chile.
Brazil has the largest economy in Latin America and has been identified as having the potential to be one of the largest economies in the world along with China, the United States and India by 2050. Brazil is currently Queensland's largest export market in Latin America and tenth largest in the world.
Chile has also experienced sustained economic performance and growth capacity over the past two decades averaging an annual growth rate of 5.5 per cent between 1985-2010 (source: World Bank's World Development Indicators), the highest average annual growth rate in Latin America. This strong growth has seen massive developments in their mining sector creating a huge demand for a skilled workforce and consequently demand for all levels of education and training.
Trade and Investment Queensland is working with Queensland mining equipment and service (METS) companies to promote the state's first-class mining reputation to Latin America. Queensland METS exports to Latin America were valued at $181 million in 2008-09, including $87 million to Chile and $42 million to Brazil. Export development activities aim to broaden the base of Queensland mining suppliers to win contracts and improve awareness among Queensland exporters of the Latin American market.
New mine expansions, mining projects, exploration and infrastructure development in Chile, Brazil, Peru, Mexico, Colombia and Argentina are expected to provide significant opportunities for Queensland businesses. Target areas include:
- equipment and machinery leasing, installation, maintenance and services
- engineering, surveying and laboratory services
- education and training, management and technical training services
- environmental consulting, management and technologies
- processing technologies and other ICT applications.
Trade and Investment Queensland regularly organises successful mining trade missions to Latin America including Mexico, Brazil, Colombia and Chile. There are approximately 30 Queensland companies with a presence in Chile alone, which provide opportunities for the state's exporters to leverage from each other's network.
Trade and Investment Queensland representation
Trade and Investment Queensland Americas office is located in Santiago, Chile, and services the Latin American market, providing export advice and assistance to Queensland businesses. The Trade and Investment Strategy 2011-16 will further expand its representation in Latin America by establishing a presence in Brazil in 2012.
In addition, the overseas market development team based in Brisbane works closely with a network of export advisers throughout Queensland and overseas. This enhances opportunities for mutual support and collaboration to help build the export capability of Queensland firms and help drive export growth into Latin America.
Trade and Investment Queensland has a range of publications that provide more detailed information about export opportunities in Latin America.
For more information about how we can help you export to Latin America contact Trade and Investment Queensland.
Our calendar of events and export training provides information about export and trade activities for Latin America and other markets.
Last reviewed 06 June 2012