The Gulf Arab states are an important regional trade hub that also offer opportunities to access Africa, South Asia and Europe. Its position as a growing centre for Queensland exports and the regional hub will present many opportunities for Queensland exporters.
The oil-based Gulf states of the Middle East are looking to diversify their economies, which will provide ongoing opportunities for Queensland companies in the food and agriculture, education and training, healthcare and infrastructure sectors.
While political stability in the region is an issue, in the long term the region is expected to grow significantly on the back of its young and ambitious workforce. The diversification of the Middle East economies will also see growing investments, as well as influence, in these regional areas.
Queensland companies with innovative offerings in the food and agriculture, education and training, and infrastructure sectors will be in high demand, especially those willing to consider market-entry strategies such as joint venturing and partnerships.
Exporting to the Gulf states can provide the ideal launch pad for expansion into the greater Middle East and Northern African region. The key states are:
- United Arab Emirates (UAE)
- Saudi Arabia
The Gulf states are expected to become a regional hub for several industries, with their influence extending to include Eastern Africa, Turkey, Iran, Central Asia, South Asia and Europe.
The diversification of these states is a long-term trend and will be the consistent thread driving the development of new industries in the region.
Middle East opportunities
- Food security, produce and aquaculture
- Education (a drive to increase the number of schools and programs on offer)
- Major events including the 2019 AFC Asia Cup in UAE, Expo 2020 in Dubai and 2022 FIFA World Cup in Qatar
- Environmental solutions
- Processed foods and supply chains
- Innovation in life sciences and biotechnology
- Health care – especially research
- Renewable energy