UK and Europe

The Australian Government's selection of UK, French and German companies to design and build frigates, submarines and armoured vehicles respectively has provided key opportunities for Victorian organisations to offer technology, expertise, products and services and participate into the broader value chain of these multinational companies, potentially enabling further business development in the UK, Europe and beyond.

Victoria’s growing strengths in fintech can be leveraged in the United Kingdom (UK) by the UK- Australia FinTech Bridge which offers Australian and UK fintech startups entry into each country’s respective regulatory sandboxes and potential quicker licence processing for companies already holding a licence in the opposing country.

Oxford University’s world leading Global Cyber Security Capacity Centre (GCSCC)entered into a landmark agreement with the Victorian Government to collaborate with the Oceania Cyber Security Centre (OCSC) in Melbourne. This agreement is just one aspect of the growing cyber security engagement between the UK and Victoria.

Keep an eye of the ‘What’s on’ page on the Trade Victoria website for a range of delegations and events related to fintech and cyber.

Austrade's Berlin Landing Pad provides a collaborative global workspace for Victorian startups to break into the European market.

Melbourne's biotech, medical technology and pharmaceutical businesses are globally competitive in research and development and are strongly positioned to collaborate with UK and European organisations for innovative products and services – particularly biotech, medicaments and medical devices.

Significant UK and European investment into Victoria's food and fibre retail and logistics sectors provide key opportunities for Victorian businesses to build stronger trade links with these key UK and European companies.

As producers and providers of some of the world's cleanest, healthiest and premium food products, Victoria's agribusiness is competitively placed to meet the UK and Europe's growing demand for quality foods, including fruit and nuts, wine and oils and fibre.

Victoria is a powerhouse of clean energy innovation, and as the international demand for new energy alternatives continues to increase – the new energy sector has attracted some of the leading European energy companies to establish in Victoria.

Victorian companies are partnering and actively engaged in projects and are well placed to provide expert knowledge and innovative solutions to Europe and globally.

In 2017, there were approximately 229,400 UK and 331,300 European overnight visitors to Victoria providing significant opportunities for Victoria's tourism and hospitality businesses to increase their customer base.

The Victorian Government encourages European businesses to base their Asia-Pacific operations in Victoria and yield advantage from Victoria’s Asia capability.

Melbourne is uniquely placed for UK and European companies seeking to service Asia Pacific. Sharing the same time zone as Asia, offering a curfew free airport, the largest container port in Australia, together with a rich multicultural linguistically diverse population, makes Melbourne a practical location for global organisations looking for success in Australia and Asia Pacific

• The UK is the second largest foreign investor in Victoria.
• The European Union (EU) accounts for 40 per cent of foreign direct investment into Victoria, with Germany, France, Italy and Spain among the largest investors from the EU.
• In 2017 there were approximately 2,9 million international overnight visitors to Victoria of which 229,400 were from the UK and 331,300 from Europe
• Negotiations for a joint Australian-European Union Free Trade Agreement has commenced, aiming to reduce non-tariff barriers and improve market access for services and agricultural products.
• The EU was Victoria's second largest trading partner (behind China) with two-way merchandise trade worth $14.3 billion in 2016-17. Total two-way trade with the UK in 2016-17 was valued at $2.2 billion.