An important economic partner for Victoria.
The diverse countries of the Middle East, Türkiye and Africa (META) are important economic partners for Victoria, and as the first Australian state or territory to establish a trade and investment office in Dubai in 1997, our strong bilateral ties with the region have provided substantial export opportunities for Victorian businesses across traditional and emerging industries.
Market snapshot
Victoria’s capabilities are aligned to meet the needs of META’s rapidly growing younger consumer population that demands premium goods and products.
In the Middle East, governments are putting into action extensive plans for economic diversification and sustainable development, with national programs including ‘We the UAE’ 2031, Saudi Vision 2030, Qatar National Vision 2030 and New Kuwait 2035. These ambitious plans, coupled with an increase in the number of international major events being held in the region, such as Expo 2030, the 2034 FIFA World Cup and the 2034 Asian Games in Saudi Arabia, as well as sporting events and conferences present significant opportunities for Victoria in premium food and beverage, sports and sports tech, education, mining and mining equipment, services and technology (METS), professional services, fintech, healthcare and through eCommerce platforms.
The Australian Government is commencing negotiations with the UAE on a Comprehensive Economic Partnership Agreement (CEPA), a bilateral free trade agreement, in 2024. To stay up to date and make a submission on the prospective CEPA please visit DFAT’s CEPA website
While METS is a traditional export sector for Victoria in Africa, a booming middle class and youth population bring more varied opportunities for Victorian exporters in Africa in education, premium food and beverage and agriculture, healthcare, professional services, and technology.
Middle East, Türkiye and Africa Insights Autumn 2024
2024 starts strong for Victoria in the META region.
The start of 2024 has highlighted the breadth of opportunities for Victorian exporters across the META region. Global Victoria continues to see opportunities for Victorian businesses in traditional export sectors such as food and fibre and METS and emerging sectors such as advanced manufacturing, creative, health, sport and retail.
Food and Fibre, Health and METS trade shows highlight demand for Victorian products and capabilities across the region
Global Victoria supported Victorian companies at recent major regional trade shows such as Gulfood and Arab Health in Dubai, Mining Indaba in Cape Town and Future Minerals Forum in Saudi Arabia.
These trade shows provided the participating Victorian companies with the latest market intelligence for markets of focus across the META region and connections with stakeholders in-market.
SportNXT puts Melbourne and Victoria on the international sports stage
SportNXT is Australia’s largest sports conference in Melbourne showcasing innovation in the sports industry. Global Victoria hosted a delegation of seven companies from the UAE and Saudi Arabia for SportNXT, connecting the delegates to Melbourne’s sporting ecosystem and fostering opportunities for collaboration.
In the emerging Superpowers session, SportNXT looked at the legacy of the FIFA 2022 World Cup in Qatar and how it has catalysed further sports opportunities in Qatar.
Opportunities for exporters from regional Victoria
Lamia Damerje, Global Victoria’s Regional Trade Director based in the Victorian Government Trade and Investment Office (VGTI) in Dubai, undertook a business trip to Victoria in March to meet with companies and stakeholders to discuss how Global Victoria can continue to assist exporters who are looking to do business or expand their business in the META region.
Together with Regional Manager, Madelaine Sexton, Lamia met with businesses across the creative, sport, METS, advanced manufacturing, and retail sectors.
Following the trip, the VGTI Dubai will be scoping opportunities across the META region in these sectors. Stay tuned!
Direct flights between Melbourne and Istanbul enable deepening trade ties between Victoria, Türkiye and beyond
In March 2024 Turkish Airlines commenced flying its first Australian route between Melbourne and Istanbul with 3 flights per week via Singapore. The direct flights will strengthen Victoria’s access to key Middle Eastern, African and European markets via Istanbul – a major global trading hub – and provide Victorian goods exporters more opportunities to get their products to these markets via air freight.
Qatar launches new investment program to attract tech startups
Under the direction of the Amir, the Qatari Government recently launched the Startup Qatar Investment Program.
The program aims to attract tech startups to establish or expand their operations in Qatar and has two funding streams. The first stream provides up to US$500,000 to support the launch of startups seeking funding to establish operations in the Qatari market; while the second aims to attract established start-ups to expand their operations into Qatar through funding of up to US$5 million.
The program focuses on several priority sectors including Climate Tech, Edtech, Agritech, Sports tech, fintech and health tech. For the full list of priority sectors and information on how to apply visit the Qatar Development Bank website.
Previous regional insights
Key industries of opportunity for Victorian exporters
Agriculture, food and beverage and agritech
With its rapidly growing younger population, consumer demand for premium products is on the rise in the META region.
Traditionally there has been consistent demand for Victorian agricultural commodities and premium food and beverage products, especially in the Gulf countries which continue to import up to 90 per cent of their food requirements. Post pandemic, consumer demand is driving specific demand for food products that are organic, clean, green and can help promote immunity.
As Gulf nations invest more into sovereign food security, Victorian agtech providers can offer innovative solutions to help establish new, efficient farming operations.
Education and edtech
The Gulf nations are committed to providing quality education for their nationals and are actively working to develop a local skills base to support economic diversification and transitions to knowledge-based economies.
As Australia's leaders in transnational delivery, Victorian Higher Education and Vocational Education and Training (VET) providers have opportunities to expand their business and be part of the region’s investment in its human capital.
Mining and mining equipment, technology and services
Africa is a traditional mining and resources market with world-class mining operations spanning across the continent. The continent is a global leader in the extraction of gold, copper, manganese, cobalt, nickel and other minerals that play a vital role in the world’s economy.
Victorian METS companies are recognised throughout Africa as leaders in the sector and there are opportunities for Victorian companies to offer their expertise at every stage of the mine life cycle.
Liveability services
Governments across the META region are pursuing initiatives to develop sustainable cities and improve the management of water resources. Opportunities exist for Victorian businesses to export their knowledge, expertise and technology solutions in the urban design and water management sectors.
Healthcare, medtech and pharma
The healthcare market in the META region is experiencing strong demand for products and services from leading nations such as Australia. The COVID-19 pandemic placed a increased focus on digital healthcare solutions and the medtech market is expected to reach $31.6 billion by 2025.
Additionally, a focus on prevention and wellbeing is leading to opportunities for Victorian providers who specialise in healthcare training.
Sports management, administration and sports tech
Nations in the Gulf Cooperation Council (GCC) are increasingly interested in Victoria’s world-leading sports ecosystem as more major sporting events are slated to be held in the region including the FIFA 2022 World Cup in Qatar and the 2034 Asian Games in Saudi Arabia.
Retail and eCommerce
Post pandemic consumer behaviour has cemented the importance of eCommerce platforms in the UAE and Saudi Arabia. Amazon and noon.com are two of the largest eCommerce platforms in the region and are increasingly becoming an alternative pathway for market entry of choice for Victorian exporters.
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