The South Australian Department for Trade and Investment has announced it will open an office in Paris, as part of the upcoming state budget.
A $1.8 million investment over four years will deliver an office to support South Australia’s international trade and investment outcomes in Europe post Brexit.
South Australian Minister for Trade and Investment Stephen Patterson said an expanded overseas trade and investment office network is critical to growing South Australia’s exports and ensuring ongoing economic and jobs growth.
“This will grow our capacity to reach emerging markets in Europe by focusing on two-way trade and investment, and by driving exports in key sectors for South Australia,” he said.
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“In a post Brexit trade landscape, it’s crucial that South Australia has a continued presence in the UK through the office of the Agent-General as well as a strong presence in the European Union through the new Paris office.”
Europe is a key market region for South Australia, with the European Union routinely in the top five export destinations for South Australian goods and services — the value of exports exceeding $700 million in the year to April 2021.
South Australia has most recently seen its relationship with France grow through the $90 billion Future Submarine Program in partnership with Naval Group.
Patterson said the Paris office will be an important step in delivering further trade and investment opportunities with Europe through the already strong bilateral relationship.
The new Paris office joins its counterparts across the globe in Shanghai, Jinan, Tokyo, Dubai, London and Houston.
Since its establishment in March 2020, the Houston office has facilitated valuable results for South Australian businesses, settling a deal between nine local companies and major US grocery retailer Central Market.
Patterson said the Paris office will be a crucial part of the network of existing offices, opening up further opportunities for South Australian businesses.
“By establishing this new trade and investment office in Paris we’re continuing to grow SA’s trade representation, which is backing our exporters to grow their businesses, create more jobs and grow the South Australian economy,” he said.
This article was first published by The Lead South Australia.