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Middle East market overview
The Gulf states are becoming a regional hub for several industries, with their influence extending to include Eastern Africa, Turkey, Iran, Central Asia, South Asia and Europe.
Exporting to the Gulf states can provide the ideal launch pad for expansion into these regions. The key Gulf states are:
- United Arab Emirates (UAE)
- Oman
- Saudi Arabia
- Bahrain
- Qatar
- Kuwait
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.
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.
Queensland and the Middle East
In 2020, Queensland’s goods exports to Middle East states valued $845.6 million. And the region is a strong market for Queensland services, tourism and education.
The Gulf states of the Middle East are looking to diversify their economies, which will provide ongoing opportunities for Queensland companies – especially those with an online presence – in the food and agriculture, education and training, healthcare and infrastructure sectors.
Middle East opportunities
- Food security, produce and aquaculture
- Education and training (a drive to increase the number of schools and programs on offer)
- Major events including 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
Resources
- Austrade, Market Profile – United Arab Emirates
- Austrade, Market Profile – Oman
- Austrade, Market Profile – Saudi Arabia
- Austrade, Market Profile – Bahrain
- Austrade, Market Profile – Qatar
- Austrade, Market Profile – Kuwait
- Austrade, Doing Business – United Arab Emirates
- Austrade, Doing Business – Bahrain
- Austrade, Doing Business – Oman
- Austrade, Doing Business – Qatar
- Austrade, Doing Business – Kuwait
- Austrade, Market Information Package for Australian education institutions
- Australia Arab Chamber of Commerce and Industry
- Australian Business Council Dubai
- DFAT, Market Insights Qatar
- DFAT, Market Insights Kuwait
- DFAT, Market Insights Saudi Arabia
- DFAT, Market Insights United Arab Emirates