A dynamic and diverse region.
Latin America is a region with huge potential. It offers significant opportunities for Victorian businesses to diversify beyond traditional economic partners.
The Victorian Government has a long-standing commitment to diversification and growing its engagement with Latin America. Our Trade and Investment office in Santiago, Chile was established in 2016, and we continue to build on objectives outlined in Victoria’s Globally Connected Latin America Trade and Investment Strategy released in 2018.
Market snapshot
Latin America is a middle-income, highly urbanised region with strong potential for experienced Victorian exporters. The region is a leader across key industries that are crucial to the global economy – it is rich in mineral resources and arable land and has huge renewable energy potential. Latin American businesses are dynamic and resilient and are always looking for innovative solutions to improve efficiency, productivity, and sustainability.
Latin America’s technology space has experienced a boom over the past few years. Emerging verticals such as Fintech, Agtech and Education Technology have received record investments and are transforming the way of doing business and learning in the region.
The push for a global energy transition has prompted significant investment flows into the mining and resources sectors, where Latin America ranks as a strategic supplier. With vast wind, solar and hydroelectric potential, the region is positioning itself as a clean energy powerhouse. Also, a fast-growing middle class has resulted in increased demand for premium products, including in the food and beauty sectors.
Australia has long-standing and growing ties with the region. The country has free trade agreements with Peru and Chile, and free trade links with Mexico were established recently with the adoption of the Comprehensive and Progressive Trans-Pacific Partnership
Australia and Latin America are connected through direct flights from Chile and North America.
Market update
Global Victoria Women – Connecting International Leaders
In April 2025, Global Victoria Women (GVw) proudly hosted the Connecting International Leaders Networking Reception at the State Library of Victoria.
The flagship activation welcomed over 60 senior women executives from São Paulo, Brazil, including CEOs, Directors, Founders, and other influential leaders, alongside prominent leaders from Victoria’s business and government sectors.
The Brazilian delegation, led by Saint Paul Business School, was in Melbourne for a week-long program at Melbourne Business School focused on digital transformation.
The GVw event was an opportunity to share perspectives from both Victoria and Brazil on impactful leadership and celebrate the achievements of women in international business. It facilitated new opportunities for trade, investment and international education partnerships, paving the way for deeper collaboration between Victoria and Brazil.
Spotlight on Argentina: Victorian METS companies explore opportunities in a transforming mining sector
Over the past 12 months, Argentina's mining industry has undergone a remarkable transformation driven by pro-business reforms and a surge in foreign investment.
The country has seen substantial growth in lithium and copper mining, with global players such as Rio Tinto and First Quantum Minerals committing to multi-billion-dollar projects. Recognising increasing opportunities in Argentina, Global Victoria’s team in Latin America hosted a webinar in February 2025, bringing together over 35 Victorian Mining, Equipment, Technology, and Services (METS) companies to explore potential business prospects in the sector. The event provided a comprehensive industry overview, covering the METS ecosystem and the political, economic, and legal factors shaping Argentina’s mining landscape.
Looking ahead, Global Victoria is planning an exploratory mission to Arminera in Argentina in May 2025. Contact our Santiago VGTI team for more information.
Driving Innovation in mining and connecting with Latin America
Other initiatives to support Victorian companies to grow connections in Latin America’s mining sector include a Global Victoria Trade Mission to Expomin in April 2025 and a planned program aligned with PERUMIN in September 2025.
The Santiago VGTI also had a team member attend the Prospectors & Developers Association of Canada (PDAC) 2025 Conference in Toronto, Canada in March 2025, helping to connect Victorian METS companies with Latin American delegations in attendance.
As global demand for critical minerals grows, Victoria's METS sector is consolidating its position as a strategic ally in the exploration, development, and processing of essential resources for the energy transition.
Strengthening collaboration to address water management challenges
Water management is a crucial challenge for both Chile and Australia. Exchanging knowledge, technologies, and best practices is key to developing sustainable solutions and strengthening collaboration between the two regions. Global Victoria was pleased to welcome two water management delegations from Chile over recent months – including a visit from UC Chile’s Water Law and Management Center in March and a visit from water user organisations and professionals from the Coquimbo Region of Chile in January.
These visits highlighted Australia’s integrated water management approach, and how innovation and research has modernised irrigation districts such as Goulburn-Murray Water.
Santiago VGTI at the World Agri-Tech Innovation Summit 2025
Agricultural innovation continues to advance, and from Victoria, we continue to support the expansion of technological solutions that contribute to the transformation of the sector.
A member of our Santiago VGTI team participated in the World Agri-Tech Innovation Summit 2025 in San Francisco, an event that brought together more than 2,000 agri-food industry leaders to discuss the latest innovations and strategies for more sustainable and efficient agricultural production.
During two days of conferences and meetings, key topics such as artificial intelligence applied to agriculture, automation, biotechnology, and new financing models were explored, and connections were made with companies and experts who are driving the future of the sector. Meetings were held with companies from Argentina, Brazil, Costa Rica, and a delegation of 13 Chilean companies, to strengthen ties and explore collaboration opportunities in Latin America and Victoria.
Celebrating 80 years of diplomatic relations between Australia and Chile
2025 marks 80 years of diplomatic relations between Australia and Chile.
Earlier this year, our VGTI team in Santiago attended an event hosted by the Australian Ambassador to Chile, which celebrated the collaboration, trade ties and shared priorities that have strengthened this important bilateral relationship over the years.
Upcoming activities
Australia - Latin America Business Council (ALABC) Annual Dinner in Melbourne
Save the date! Registrations opening soon for ALABC’s Annual Dinner in Melbourne and 2025 Business Excellence Awards on 24 July 2025. This will be an important opportunity to connect with business and government representatives in Melbourne and celebrate the growing business engagement between Victoria and Latin America.
World Chambers Congress
The 14th World Chambers Congress will be held in Melbourne from 2-4 September 2025.
The congress will bring together businesses, chamber and government representatives to discuss key issues and opportunities for businesses globally. Up to 2,000 international delegates are expected to attend, providing a platform to connect with new global networks.
Previous regional insights
Key industries of opportunity for Victorian exporters
Mining, engineering, technology and services (METS)
Latin America is a traditional mining and resources market with world-class operations spanning across the continent.
The region is a global leader in the extraction of copper, gold, silver, lithium and other minerals of significance to the world’s economy. Over the past three decades, several world-leading Victorian-headquartered mining companies have established operations in Latin America (primarily Chile, Peru, and Ecuador).
With the support and in-market expertise of Global Victoria’s team in our Santiago office, a growing number of Victorian mining engineering, technology and services (METS) companies have secured business opportunities in the region, through trade programs and bespoke support.
Agricultural innovation
Agribusiness in key Latin American markets, including Brazil, Argentina, Chile, Peru and Uruguay, is capital-intensive and operated by highly sophisticated and competitive corporate players, which have successfully integrated into global agri-food supply chains.
These operators are early technology adopters and are increasingly seeking to improve productivity, sustainable farmland management and traceability applications.
The impact of climate change on weather patterns and water availability has prompted significant investment in new technologies to ensure efficient management of water and environmental resources. Demand from European and Asian buyers are requiring Latin American agri-food exporters to improve sustainability and traceability standards by incorporating new technologies.
Renewable energy
With a quarter of the region’s electricity coming from renewable sources, Latin America has historically been a leader in renewable energy. As global climate action picks up and the trend towards net-zero consolidates, the region is expected to become a hotspot for renewable energy investment.
A combination of vast renewable resources, disruption across global energy markets and domestic policy signals has resulted in the acceleration of the clean energy pipeline in the region. Countries such as Brazil and Chile have launched ambitious clean hydrogen strategies and several large-scale projects are currently in the pre-feasibility, feasibility and construction phases.
Education
Latin American students are an important and vibrant contribution to Victoria’s classrooms and communities. The Victorian Government's Trade and Investment office (VGTI) in Santiago actively promotes Victoria’s world-class education opportunities, and Victorian institutions achieve joint research partnerships with Latin American counterparts, including in the areas of sustainability, climate change, agriculture, water management and energy.
Countries like Colombia and Brazil are major sources of international students in Victoria. Other markets of high potential include Mexico, Chile, Peru and Argentina.
Innovation and digital economies
Latin America’s digital landscape is transforming rapidly. The region has the highest rate of urbanisation in the world and fast-growing levels of connectivity.
The fintech sector is one example of a vertical that has experienced rapid growth in recent years, as millions gain access to banking services through new digital platforms. Brazil is a world-leading fintech market and Mexico and Chile are also growing at a rapid pace. In Chile, a new Fintech Law was approved by Congress in October 2022 creating greater clarity on the regulatory framework for the sector.
A sophisticated and social-media-savvy consumer market also presents opportunities for Victorian digital technology companies across a range of segments.
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