Summer 2020 Update

Victoria’s engagement with the United Kingdom (UK) and Europe continues to strengthen. This year will no doubt deliver a new landscape for Victorian companies seeking to build and expand business ties with the region.

The UK Government is legislating to deliver Brexit at the end of January and has indicated it will pursue a free trade agreement with Australia at the earliest opportunity. Regarding Europe, negotiations for a free trade agreement between Australia and the European Union (EU) will continue apace in 2020. The Victorian Government is advocating for a high-quality agreement that delivers significantly improved access to the EU market for Victorian goods and services.

Victoria’s goods exports to Europe have been dominated by pharmaceuticals and medicaments over recent years. In 2018-19, exports of pharmaceuticals to the EU (excluding UK) reached $443 million, representing a 351 per cent increase over the previous year. Wool ranked second followed by medicaments and fruit and nuts. In terms of the UK, Victoria’s top merchandise exports were medicaments followed by alcoholic beverages and perfumery and cosmetics.

Showcasing Victoria’s world-class biomedical capabilities

To support Victoria’s medical technology and pharmaceuticals sector, Global Victoria and the Victorian Government Trade and Investment Office in London, UK led a trade mission to BioEurope 2019 in Hamburg, Germany in November.

BioEurope is Europe’s largest partnering conference serving the global biotech industry. Ten Victorian companies participated in the mission, which provided an opportunity to showcase our state's capabilities and facilitate B2B matching in-market.

The mission also included two days in Basel, Switzerland following BioEurope where the Victorian Government facilitated targeted meetings with key players in the region, including Basel Area (Basel’s economic promotion agency), Roche and Novartis.

Also, in November, the Victorian Government hosted a visit by 16 European Union Ambassadors to Melbourne.

Global Victoria together with the University of Melbourne arranged a tour of Victoria’s biomedical precinct in Parkville, which included visits to the Victorian Comprehensive Cancer Centre and Walter and Eliza Hall Institute.

Sixteen European Union Ambassadors learnt about how Global Victoria supports Victorians to do business with the EU

There are strong research partnerships shared between the biomedical precinct and European research institutions and biomedical companies. The Ambassadors also had the opportunity to connect with key Global Victoria representatives.

For any enquiries regarding exports of Victorian medical technology and pharmaceuticals, please contact Libby O’Connor – Global Victoria's Senior Trade Manager, Medtech and Pharma by sending her an email.

Ask Us a Question or Leave a Comment

Comment Title