South Australia will open a trade office in Washington DC, expanding its presence in the United States as the State pursues AUKUS and defence opportunities.
Trade and Investment Minister Nick Champion made the State Budget announcement in Washington DC today as part of a trade mission, with South Australia continuing to position itself at the fore of the defence industries in the wake of the AUKUS agreement.
The office – which is being funded in next week’s State Budget – is the fourth South Australian trade office to open in the US, joining offices in Houston, San Francisco, and New York City.
The United States is South Australia’s second largest export market with the value of exported goods into the country estimated at $1.58 billion in the year ending March 2023. The US is also the State’s single largest foreign investor.
The Washington DC office will provide for greater proximity to the US Defence Department and the National Aeronautics and Space Administration (NASA), as South Australia grows its advanced manufacturing capabilities.
The office is also being established with the potential for investment as South Australia’s Hydrogen Jobs Plan grows – and capitalise on the Biden administration’s, Inflation Reduction Act, as the US works towards decarbonisation.
Minister Champion met with former Prime Minister and Ambassador to the United States of America Kevin Rudd to discuss how South Australia can seize on this competitive advantage through the AUKUS agreement.
The State’s leading role in AUKUS will also be highlighted at a networking event with key US defence personnel and organisations in Washington DC today.
Attending is Rear Admiral Ian Gordan Murray AM, who was appointed in January as the Australian Defence Attaché to the United States of America and Head of the Australian Defence Staff, Washington, to engage with US-based stakeholders.
Washington DC is home to the biggest centre for biomedical research in the world, including the National Institutes of Health (NIH), with nearly 6000 scientists – 148 current and former NIH-supported researchers have received Nobel Prizes.
It follows a record South Australian attendance at BIO 23 in Boston this week.
A month ago, the Malinauskas Labor Government announced the establishment of a trade office in Frankfurt, Germany.
The Washington DC and Frankfurt offices join other South Australian trade offices in the UK, US, China, India, Japan, South Korea, Singapore, Hong Kong, Malaysia and the United Arab Emirates.
So far in 2023, this global network has generated more than $30 million in trade and investment outcomes for the State.
Funding has also been provided to accompany the State’s expanded network of trade offices, as earlier this year Martin Haese was appointed as the State Government’s Special Envoy to Singapore and South-East Asia.
A total $2.4 million will be delivered over four years, allocated in the 2023-24 State Budget, to deliver these new initiatives and grow South Australia’s global presence.
Quotes
Attributable to Stephen Mullighan
We are establishing permanent presences in major economies around the globe to open significant investment opportunities in our State.
This latest expansion builds on the historic AUKUS agreement, putting South Australia front and centre for future investment and helping to create local jobs.
Attributable to Nick Champion
Washington DC is home to the US Government and the beating heart of its political system.
As we build on South Australia’s advanced manufacturing capabilities and expand our skillsets to deliver on the AUKUS deal, it makes sense to expand our footprint in the US.
Our connection with this important trade partner will continue to strengthen, and we want to ensure our State is at the fore when lucrative investment opportunities arise.
