Australia and New Zealand

Australia has been an appealing and profitable market for U.S. companies for many years. It is an open market with minimal restrictions on imports of goods and services, offering very few barriers to entry, a familiar legal and corporate framework, and a sophisticated yet straightforward business culture. While it is important to understand and appreciate Australia’s cultural differences from the U.S., the long and successful history of U.S. firms in Australia suggests that U.S. companies will generally find this market to be rewarding and attractive. Although modest in size, New Zealand shares similar economic and cultural characteristics to those of the U.S. Going from one of the most regulated economies in the OECD 25 years ago to one of the least regulated today, New Zealand now profits from being one of the most resilient OECD economies, providing a growing and stable platform for new and experienced Wisconsin exporters alike.

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New-Zealand AUSTRALIA

While Australia is distant from major world markets, it is nevertheless well integrated into global markets. Australia is strategically positioned close to Asian markets that are driving fast-growing global food demand, and the industry requires innovation across all aspects of the production and the supply chain. Rich in natural resources, Australia has strong mining and agricultural sectors that require industrial machinery—an area where Wisconsin excels. Australia already imports around 70 percent of its mining equipment, and the country needs more equipment as projects move to the production phase. The agricultural sector also presents opportunities for Wisconsin agriculture and food production exporters. Additionally, the Australian market for medical equipment and supplies provides promising opportunities. The majority of medical technology products used in Australia are imported, with the U.S. being the number-one source of these imports. Wisconsin is already a leader in medical equipment exports, making this a promising export opportunity for Wisconsin companies.

 

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The views or opinions expressed here are solely those of the author(s) and do not reflect those of WEDC. WEDC is not responsible for the contents nor does WEDC guarantee the accuracy, completeness, timeliness or reliability of this information.