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Why Latin America?

DID YOU KNOW:

  1. Latin America has over 700 million consumers.
  2. The Pacific Alliance is a growing market for Australian goods and services exporters. In 2019, total two-way trade in goods and services with Mexico, Colombia, Peru, and Chile was worth $6.7 billion.
  3. Latin America has a GDP of US $5.1 trillion – 76% higher than the combined GDP of ASEAN states.
  4. Both Mexico and Brazil are bigger economies than Indonesia.
  5. By 2030 Mexico and Brazil will be in the top 10 economies of the world.
  6. Mercosur is the fourth largest trade bloc in the world. 

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Untapping the Latin American markets to maximise growth and reduce your risk exposure

Are you taking maximum advantage of the growth in Australia-Latin America relations?

  • There are more than 200 ASX companies already doing business in Latin America.
  • Two-way trade has expanded from traditional reliance on primary products towards services and manufactured goods.
  • Australian companies hold $8 billion of Foreign Direct Investment stock in companies in Brazil, Chile, Mexico, Argentina, Peru and Colombia.
  • This is more than Australian companies hold in India, Korea and Vietnam combined.
  • Brazil and Colombia are in the top five countries for International students in Australia, after China, India and Nepal.
  • Argentina, Brazil and Mexico are members of the G20 along with Australia.
  • Chile, Peru and Mexico are members of APEC and signatories to the CPTPP.
  • Chile was the fifth country in the world to enter into a free trade agreement with Australia.
  • Australia also signed a Free Trade Agreement with Peru in 2019.

Why should Australian organisations pay more attention to Latin America?

  • There is a lot of goodwill towards Australia in Latin America which greatly facilitates opening doors and building relationships - and vice versa.
  • Australia is seen as a green, clean, friendly country – which has many similarities with Latin America.
  • Despite its ‘developing status’, Latin America possesses investment capital, astute business people and talented entrepreneurs, all of which are needed in Australia.
  • We share common values in the most general sense, democracy, rule of Law, diversity and multiculturalism.
  • The establishment of a policy framework to underpin the two-way relationship would lead the way towards expanding our horizons, diversifying markets, reducing the dependency on a small number of existing trading partners.

ALABC – New Market Access

Gain key strategic insights and open valuable new markets in Latin America with the support of the Australia-Latin America Business Council (ALABC).

ALABC was established in 1989 as an independent, not-for- profit association to support the growth of trade (both in merchandise and services), investment, tourism and students and staff mobility between Australia and Latin American countries.

ALABC has more than 150 members ranging from large multinationals corporations to research and education institutions, SMEs, professionals and diverse stakeholders. It is the peak industry body in Australia at the forefront of growing business links between Australia

ALABC:

  • Holds regular meetings with government, ambassadors, diplomats and industry leaders in Australia and in Latin American countries.
  • Provides networking opportunities and introductions for our members.
  • Raises the awareness of the Latin American region and the importance of the bilateral relationship with Government and industry in Australia and abroad.
  • Shares unique insights on key issues impacting business with the region.
  • ALABC’s Business Forums are an effective tool for business diplomacy and complement the efforts made by key industry players in Australia and their counterparts in Latin America countries.


You Cannot Afford to Overlook Latin America

  1. There is an enormous opportunity for Australian businesses to profit from developments in Latin America.

  2. Australian businesses can play an even greater role in the mining sector in Latin America. The region is rich in mineral resources and is a key market for mining equipment and technology services companies.
  3. Clean energy and green hydrogen are a major focus for regional governments and they together with local players are wanting to attract and partner with Australian energy technology companies.
  4. The new Asia and South America digital gateway connecting Australia and Chile provides new opportunities for data driven businesses.
  5. There is scope for Australian businesses to set up manufacturing operations in the region, complementing or replacing ones that they may have elsewhere.
  6. Latin America is a major agricultural producer and exporter and opportunities exist as a consequence of similar challenges.
  7. Health and related services offer opportunities not only for the export of products and niche applications but also health IT, health infrastructure and clinical trials.
  8. Education and training can play an even greater role than it has to date in helping to improve Latin America’s human capital, currently one of the regions’ major focus areas..

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Championing Business Growth across the Pacific

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