The Australian Food & Beverage Virtual Showcase 2021 was held in March 2021, and included 43 Victorian exporters. Over 160 Japanese companies registered to view the online showcase.
Due to the success of the showcase and strong interest by Japanese importers, the event will continue from July to December 2021. All Victorian companies involved in the March showcase will be invited to join the extended program.
An Online Symposium on Australia’s Agriculture Sector was held on 13 April 2021. Adam Cunneen, Commissioner for Victoria to North Asia, (pictured) spoke about the strengths of Victoria’s agricultural sector, which included:
► Victoria accounts for approximately 25 per cent of Australia’s GDP, despite only having 3 per cent of Australia’s landmass.
► Victoria’s agriculture production is valued at around A$16 billion annually, and represents 25 per cent of Australia’s total production, with dairy being the leading sector.
► Japanese agri-food companies have invested in Victoria including Kagome, Ito En and Yakult. Kagome Australia produces 200,000 million tonnes of tomatoes annually, and Ito En produces high-quality green tea in Victoria, mainly for export.
The Australian Craft Beverages Showcase 2021 was scheduled to be held on 7 July, however due to the fourth state of emergency being announced for Tokyo it has been postponed until 7 October.
BioKorea 2021 was held in June 2021 and Global Victoria supported 8 Victorian participants and exporters that represent areas such as neuroscience, clinical trials, cell therapy, and pharmaceuticals. The Victorian participants met 29 Korean companies at the conference to discuss business opportunities.
Victorian entities including the Walter and Eliza Hall Institute, Cell Therapies, and Brandon Capital presented at the Australia-Korea Open Innovation Forum covering topics including Victoria’s capabilities in clinical trials, contract manufacturing, and investment partnering.
Our Seoul VGTI office met with Incheon Free Economic Zone to discuss cooperation in Bio healthcare and the broader medical industry. The Incheon zero includes one of Korea’s largest bio-clusters which hosts companies such as Samsung Biologics, Celltrion, and GE Healthcare.
In-Market Insights Video Series 2020
In-Market Insights is a series of videos presented by Global Victoria's team members from across its international network of 23 Victorian Government Trade and Investment offices (VGTIs). The series sheds light on the current state of play in key global markets and sectors.
JAPAN - Education August 2020
Episode 17 features Global Victoria’s Makoto Sanada, Education Services Manager from the Tokyo Trade and Investment (VGTI) office in Japan. Makoto shares insights on emerging opportunities for Victorian educations providers already engaged or seeking to engage with the region.
VIDEO: Global Victoria In-Market Insights: JAPAN - Eudcation August 2020
REPUBLIC OF KOREA June 2020
Episode three features Global Victoria’s Executive Business Advisor, Haesook Chung. Based in our VGTI office in Seoul, South Korea, Haesook shares her expert knowledge about emerging opportunities in the region for Victorian businesses.
VIDEO: Global Victoria's In-market Insights - KOREA June 2020
JAPAN June 2020
Episode four features Global Victoria’s Trade Development Manager, Grahame King from our Tokyo VGTI office in Japan. Grahame shares his expert knowledge on the emerging opportunities in Japan for Victorian businesses.
VIDEO: Global Victoria's In-market Insights - JAPAN June 2020
Serious about exporting?
Whether you’re a Victorian business looking at entering new markets, expanding into additional markets, or taking on more challenging high-growth markets, our free online self-assessment tool, Go Global will show you how to get there.
Through a series of export-focused questions, Go Global works by measuring your business’s capability and capacity in nine key areas. Nominate yourself and up to five key stakeholders from your business to take part in the self-assessment to receive a holistic overview of your business's export-readiness.
Once all nominees have completed their self-assessments, you'll receive a comprehensive report highlighting your business's strengths and capabilties, and recommended next steps to help you go global.
Go Global is a useful tool for the development or refinement of your market entry strategy:
- Identifying strengths
- Identify gaps in capabilities
- Recommending the next steps to bridge those gaps and support your export journey.
Winter 2020 update
Japan was set to welcome the nations of the world in July 2020 to the Tokyo Olympic Games. In March, due to the spread of coronavirus (COVID-19), the decision was taken to postpone the games to July 2021.
Beyond the postponement of the Olympics, coronavirus has had far-reaching impacts on public health and economies globally. It has changed the way we live, work and interact and Japan is no exception.
We have seen shifts in business operations that have challenged the traditional Japanese business culture and consumer behaviour, driving technology uptake and accelerating new trends in distribution channels.
While Japan, like most nations continues to manage the health crises, there is still an appetite by business to engage with Victorian companies to introduce or expand current product and service offerings.
The Victorian Government Trade and Investment team in Tokyo has identified changes in demand and emerging opportunities for engagement by Victorian businesses in a range of industries, including:
- a heightened awareness and demand for fresh produce, frozen vegetables and beef
- a spike in online shopping, particularly in fashion, cosmetics and personal care items
- a focus on preventative health, dietary supplements
- interest in collaborations in medical research and development
- digital platforms and products that enhance the B2C shopping experience.
Further change is also occurring in the leadership of Japan with the resignation at the end of August of Japan’s longest-serving leader, Prime Minister Shinzo Abe. The new Prime Minister, to be announced mid-September will serve until the next national election, which is due by October 2021.
As Japan, along with global partners works towards an economic recovery amidst the continuing health concerns, Victorian business can be confident in the durability of the long and mutually beneficial relationship the State shares with Japan. As Victoria’s third-largest trading partner at December 2019 and with over 190 Japanese companies located in Victoria, the resilience of the relationship will serve us well as we explore new opportunities together into 2021 and beyond.
On 3 September, the Australian Government released a Request for Tender to preferred supplier Hanwha Defence Australia, part of the large Korean business conglomerate Hanwha Corporation to build and maintain 30 self-propelled howitzers and 15 armoured ammunition resupply vehicles and their supporting systems.
The howitzers would be built and maintained in the Geelong area, creating up to 350 jobs in the region and would also provide significant opportunities in other areas such as transport and warehousing, as well as component manufacture and repair.
Autumn 2020 update
In early February, Global Victoria supported a delegation of South Korean horticulture buyers, food service and wholesale companies to visit Victoria and meet with growers in the Sunraysia and Loddon Mallee regions to potentially source table grapes and citrus produce. The delegation included representatives from Korea’s largest hypermart chain and one of the largest food service companies in Korea.
The delegation was an initiative to build on the growing trade between Victoria and Korea, particularly in the food sector. Victoria’s food and fibre exports to Korea registered 31 per cent growth on the previous year to a value of $479 million in 2018-19.
Victoria was the largest food and fibre exporter from Australia with 27 per cent of the value of exports from just 3 per cent of Australia’s land mass. Total food and fibre exports from Victoria were $7,257 million
South Korea is the fourth largest economy in Asia with a population of over 50 million. Increasing demand for high quality goods and services, together with a reduction in trade barriers, has provided key export opportunities for Victorian businesses. Export opportunities for Victorian agribusinesses continue to emerge for high-quality beef, dairy, horticulture and healthy functional foods.
Global Victoria Women (GVw) 2020
Global Victoria was privileged to host a business roundtable on 27 February featuring a panel of Victorian women in the life sciences and medical technology sector who are undertaking business in Japan and/or South Korea. This event was part of a wider, inaugural program that focussed on celebrating women in international business called, Global Victorian Women (GVw).
Guest speakers at the roundtable included prominent and highly successful business women:
- Dr Jackie Fairley, CEO, Starpharma Holdings Limited
- Angela Luttick, Executive Vice President Business Development, 360biolabs
- Dr Anne- Laure Puaux, Head Biotechnology and Commercialisation, The Walter and Eliza Hall Institute of Medical Research (WEHI).
Each speaker shared their experiences and valuable insights about developing business in Japan and Korea. Some of the key messages and advice shared included: the benefit of government led trade missions to ease barriers for access to Japanese and Korean government and research facilities; the requirement for translators and interpreters for both the business/social aspects but also for specialist technical translations, and; the need for patience in business negotiations.
Our thanks to all the delegates that participated and to our guest speakers for the generosity of their time and insights.
Summer 2019 Update
Major South Korean airline, Asiana is launching direct flights between Melbourne and Seoul in a move that will strengthen ties with one of Victoria’s key trading partners and attract more tourists and more investment.
The Victorian Government is partnering with Visit Victoria, Melbourne Airport, the City of Melbourne, and the Consul-General of the Republic of Korea to support Asiana as it launches a seasonal service from 26 December to 21 February 2020, with weekly flights.
If this season is successful, there is the potential for Asiana to establish ongoing flights, opening up new connections with South Korea for tourists, investors and international students.
South Korea is a key trading partner with Victoria, with two-way trade worth more than $3.1 billion in 2018/19. Direct flights will help more major Korean businesses join those already in Victoria, which include dietary supplement manufacturer Nutribiotech, Kumho Tyres and major conglomerate Hanwha.
South Korea is a major source of tourists to Victoria, with more than 55,800 Korean visitors spending $134 million in Victoria in the year ending 2018. It is also one of our fastest growing markets for international students, with numbers up 25 per cent in the last five years.
Annual Australia Japan Joint Business Conference – Osaka, Japan
The 57th Annual Australia Japan Joint Business Conference (AAJJBC) was held in Osaka in early October. The conference attended by more than 350 leaders from industry and government from Japan and Australia was themed ‘New Partnership for the Future’.
The conference afforded delegates an invaluable platform to discuss critical issues in the global political and economic environment and opportunities for collaboration in areas including trade, infrastructure, energy and innovation.
Minister for Jobs, Innovation and Trade, Martin Pakula attended the conference and met with senior leaders from Japanese industry to further promote and enhance the already robust Japan-Victoria business relationship.
Spring 2019 Update
Victoria is one of the world’s leading life sciences hubs, including medical technology, biotechnology and pharmaceutical industries, supported by 16 major medical research institutes, 11 teaching hospitals and nine universities.
The commercial sector employs more than 31,000 people in 1,600 firms, generates over $21.4 billion in revenue and contributes over $1.7 billion in exports to the Victorian economy.
The Victorian Government, in partnership with the sector continues to promote the State as a world-leading location to develop products, engage world leading clinicians and researchers, conduct clinical trials and manufacture high value products.
Northeast Asia is a region which is emerging as offering strategic opportunities for the Victorian biotech industry and the Victorian Government is supporting a number of initiatives over the next several months to assist Victorian companies and organisations develop connections and investigate opportunities.
In October the Victorian Government will support a delegation to Yokohama to participate in BioJapan 2019, which is Asia’s premier partnering event for the biotechnology industry. In late October, the AusBiotech Conference and Australia Biotech Invest 2019 will be held in Melbourne, where we are expecting delegates from Japan and South Korea.
With the Korean government announcing in May 2019, a Bio-Health Industry Innovation Strategy, it is timely for Victorian companies to seek partnership and collaboration opportunities with South Korean industry in areas such as clinical trials, digital health and regenerative medicine.
Participation in the AusBiotech Conference and also a proposed Victorian Government supported delegation to BioKorea in April 2020 will provide the platform for Victorian organisations to further investigate trade and partnership opportunities.
Want to know more?
For further information and to enquire about Victorian participation in BioJapan, AusBiotech or BioKorea, contact our Senior Trade Manager, Health Medical Technologies and Pharmaceuticals, Libby O’Connor by sending her an email.