Latin America market overview
Latin America has 21 countries with a population of almost 600 million people, predicted to reach 800 million by 2050. The region’s middle class has grown by 50% over the past decade and is now one-third of the population.
Queensland and Latin America
Priority Latin American 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.
Latin America’s tropical conditions make it a natural partner to collaborate with Queensland across several sectors.
For example, commonalities between Latin America and Queensland in agribusiness have the potential to expand biofuel production without diverting land from growing food.
There are 100 infrastructure projects in Latin America and the Caribbean valued at A$192 billion.
The projects are across a range of sectors, including:
- electricity generation and transmission
- information communication and technology
- oil and gas
- port and logistics
- rail, highways and bridges
- urban mass transit
- water and wastewater.
The Australia–Chile Free Trade Agreement, a double taxation agreement and a transparent process for doing business make Chile a natural hub for Queensland companies. As well, the Peru–Australia Free Trade Agreement (PAFTA), which entered into force on 11 February 2020, will launch a new chapter in economic relations between Queensland and Peru.
Latin America opportunities
- Mines – technology and services
- Agribusiness – technology, services and innovation
- 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
- Sustainable development
- Airport development and tourism
- Innovative technology
- Legal services
- Remote medicine
- Renewable energies
- Austrade, Market Profile – Chile
- Austrade, Doing business – Chile
- Austrade, Market Profile – Colombia
- Austrade, Doing business – Columbia
- Austrade, Market Profile – Peru
- Austrade, Doing business – Peru
- Austrade, Market Information Package for Australian education institutions
- DFAT, Australia–Chile Free Trade Agreement
- DFAT, Peru-Australia Free Trade Agreement (PAFTA)
- DFAT, Market Insights Brazil
- DFAT, Market Insights Chile
- DFAT, Market Insights Colombia
- DFAT, Market Insights Peru