The North America market offers diverse opportunities for Queensland companies.

North America is Queensland’s fifth largest merchandise trade partner and largest investor, and will be a key partner for companies looking to enter regional growth markets in Central and South America – in many ways, the gateway to the Americas.

Its sophisticated capital markets and financial structures provide vital support mechanisms for innovative SMEs to expand into these growth markets.

Economy

North America is the world’s largest regional economy by GDP, but is forecast to be taken over by China and India.

It will remain a powerful player in the global economy especially for the development of new technologies and the provision of investment capital.

Trade

The Australia-US Free Trade Agreement (AUSFTA) has been in place since 2005 and 97% of Australia’s non-agricultural exports (excluding textiles and clothing) are duty free and two-thirds of agricultural tariffs have been eliminated.

There are no restrictions on moving capital in or out of the US or the repatriation of profits. In 2003, a protocol amending the double taxation convention for Australia and the US entered into force followed by an agreement between the Australian and the US government to improve international tax compliance and to implement the Foreign Account Tax Compliance Act (FATCA) on 30 June 2014.

Investment

North America remains the largest market for funding and commercialising innovative technologies and already attracts many technology firms from Queensland and Australia.

Mining trucks hauling rubble in Mexico

North America opportunities

CurrentFuture

Current

  • Specialty food, beverage and nutritional products
  • Technology
  • METS

Future

  • Agricultural technology
  • Mining and resources technology
  • Biotechnology
  • Innovation
  • Health services

Sector opportunities in North America

investment technology

Technology

Venture capital priority sectors are:

  • software
  • media and entertainment
  • biotechnology
  • IT services and industrial/energy.

Venture capital investment grew 66% in 2014 compared with 2013. Seed stage investment declined 20%, with investors moving to less risky later stage opportunities.

Natural Products Industry Forecast by New Hope Natural Media and Sterling-Rice Group,NEXT Forecast

organic food products

Specialty food, beverage and nutritional products

U.S. consumer sales of natural, organic and healthy food products are forecasted to expand 64%, from $153b in 2013 to $252b by 2019 (CAGR of 8.6%).

81% of American families are purchasing organic food.

Top 5 natural food trends

Queensland exporters of high-quality, specialty food products have vast and far-reaching opportunities in the US market with the right strategy, as US consumers trend towards natural and organic products.

mexico mining

Mining and resources, technologies and products

Lower commodity prices for minerals and energy are driving a desire for innovation and technologies that deliver improved productivity and efficiency gains.

Mexico’s significant mining industry is ripe for improvement in productivities and HSE performance and Queensland innovative METs companies are well positioned to deliver these services.

Relevant library resources Complete library

North America Market Overview

North America Market Overview

September 30, 2016

Export market overview and commissioner profile for North America

View this resource

Commissioner’s intel: How to take your business to North America

View the videos below, and hear from TIQ’s Trade and Investment Commissioners as they speak of the opportunities in the North American market.

David Camerlengo: Business trends in North America: Emerging opportunities in the market

David Camerlengo: Practical tips: Hands on advice for doing business in North America

David Camerlengo: Doing business with North America? Learn how TIQ can assist

David Camerlengo: opportunities in the mining and resources sector

David Camerlengo: opportunities in innovative technologies

David Camerlengo: A Queensland METS success story in North America

David Camerlengo: Tips for entering the North America market

David Camerlengo and guests: Bringing your business to the USA – Webinar