Latin America has 21 countries with almost 600 million people predicted to reach 800 million by 2050. The middle class has grown by 50% over the past decade and is now one-third of the population.
Priority markets for Queensland are Chile, Colombia and Peru.
The priority markets have broad trade growth potential to provide the best opportunity for Queensland companies in
- food and agribusiness
- education and training
The tropical conditions for Latin America make it a natural partner to collaborate with Queensland across several sectors.
The commonalities shared between Latin America and Queensland in agribusiness have potential to expand biofuel production, without diverting land from growing food.
CG/LA Infrastructure reported that there are 100 infrastructure projects in LATAM valued at US$138.7 billion.
Majority of the projects are located in Brazil (valued at $48 billion) and Chile (valued at $20 billion).
The projects include:
- electricity generations and transmissions
- information communication and technology
- oil and gas
- port and logistics
- rail, highways and bridges
- urban mass transit
- water and wastewater
Latin America opportunities
- Mines – technology and services
- Agribusiness – technology and services
- Services – water management and consultancy for drought and climate change
- Infrastructure – design and master planning
- Training – English language and industry training
- VET training
- Energy production
- Higher education
- Knowledge industries
- Financial services
- Environmental services
- Land rehabilitation
- Community engagement
- Airport development and tourism
- Innovative technology
- Legal services
- Remote medicine
- Renewable energies
- Sustainable development