Victoria has a long history of business engagement, significant trade, investment, and people-to-people links with both the United States and Canada.
Victoria’s trade relationship with North America is led by the United States, which continues to provide significant opportunities for Victorian exporters. The 2005 Australia-United States Free Trade Agreement (AUSFTA) promotes increased business opportunities and ensures greater access to US markets for Australian products.
Canada is an important market – offering a stable and easy market to conduct business, with many commercial, political and cultural similarities to Victoria.
Canada and Australia are both member countries of the 2018 Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) free trade agreement.
Key industries of opportunity for Victorian exporters
Health and Life Sciences
The U.S. life sciences industry represents the world’s largest health and life sciences market, fuelling worldwide innovation through massive investments providing capital to companies in the biotech, pharmaceutical, medical device, and diagnostics sectors. While several potentially disruptive forces could reshape the life sciences industry in 2025, the U.S. remains the leading export market for the Victorian medical technologies and pharmaceuticals sector.
Beyond the U.S., there are growing collaborations between Canada and Australia that are helping to accelerate the commercialisation of innovative treatments and technologies, including in areas such as regenerative medicine and genomics.
We're helping Victorian companies connect to biotechnology, pharmaceuticals, medtech, digital health, and healthcare services opportunities.
With Victoria’s leading bio-medical precincts, clinical trial capabilities, and thriving health and medtech startup ecosystems, we're seeing increased interest in partnerships between Victorian and North American organisations.
Food and beverage
The U.S. is Victoria’s largest export market for meat products (valued at over A$1.5 billion exports in FY2023-24).
Approximately half of Victoria’s merchandise exports to Canada are agricultural products (top exports including meat, fruit, nuts, and alcoholic beverages).
The U.S. and Canada offer Victorian food and beverage manufacturers diversification and expansion opportunities across a range of product categories, including specialty, premium and emerging categories, such as native foods and alternative proteins.
Defence
As outlined in Victoria’s Defence Vision Statement, defence and aerospace SMEs form a backbone of Victoria’s broader advanced manufacturing ecosystem, with over 2,500 businesses capable of providing goods and services for defence-related projects. Global Victoria’s defence specialist, based in Washington D.C. is available to assist Victorian companies to connect with key defence industry contacts and trade opportunities in the Americas.
The AUKUS agreement announced in 2021 offers major opportunities for Victorian companies. Our supply chain has key capabilities for this generational national endeavour, with competitive strengths for both AUKUS Pillars: (1) nuclear-powered submarines, and (2) advanced capabilities, such as cyber, AI, quantum and hypersonics.
Digital technologies
Digital technologies are a key accelerator and driver of economic growth.. The U.S. is the largest tech market in the world. Key tech clusters across the U.S. include the West Coast (San Francisco Bay Area, Los Angeles, San Diego, Seattle, Denver, Utah), New York, Austin and Miami. Key tech clusters in Canada include Toronto, Vancouver, Ottawa, Montreal and Waterloo.
Key sub-sectors include Cybersecurity, Sportstech, Fintech and Edtech plus the application of technologies such as robotics, digitalisation, blockchain and AI across industrial value chains.
Consumer products
The U.S. is the largest consumer market in the world. The rise of eCommerce and direct-to-consumer (DTC) models led by Gen Z and millennials is reshaping the industry.
Engaging with social media influencers is increasingly important to succeed in selling online in the U.S., and due to the sheer size of the market, companies should be aware that high volumes of products can be demanded by suppliers and distributors.
The US selective beauty industry is highly competitive, but home to some of the world’s largest beauty corporations. Victorian brands are well-positioned to meet the growing demand from Gen Z consumers for organic, natural, and ethically produced beauty products.
Advanced Manufacturing, Mining and METS
Manufacturing is a $39.2 billion industry and a cornerstone of the Victorian economy, providing a diverse range of jobs, boosting exports and contributing to economic growth. There are opportunities for Victorian companies to think innovatively, use advanced technologies, expand their research and development and create new partnerships and international connections.
Advanced manufacturing is cross-cutting and our team is exploring opportunities for Victorian companies related to additive manufacturing, mining, sustainability, water and climate technologies.
Canada is a leading mining jurisdiction and is a globally significant producer of platinum, gold, nickel, copper, iron ore, titanium, uranium, potash and many rare earth elements. Many Victorian headquartered mining companies and Victorian METS are active in the region.
US tariff updates
Global Victoria continues to closely monitor changes to US tariff arrangements and their potential impact on Victorian exporters. For the latest official guidance, visit DFAT.
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