Europe market overviewThe European Union (EU) represents the largest global economy with US$16.47 trillion GDP in 2016. With a population of over 500 million the EU accounts for 20% of all global imports and exports. The EU is Australia’s second largest trading partner and continues as the largest source of foreign investment. In 2015, the EU’s foreign direct investment in Australia totaled $157.6 billion – 21.4 per cent of Australia’s total inwards foreign direct investment. Australia’s services exports to the EU grew by 20.3% from $8.5bn in 2010-2011 to $10bn in 2014-15 including a significant increase of 392% in the telecom, computer and information services sector over the same period. Despite the 52% majority decision to leave the EU announced in June 2016, the UK alone remains the second largest source of inbound FDI to Australia and is ranked the 5th largest global economy alongside Germany (4th) and France (6th) by 2015 GPD.1

20%renewable

energy

£6.2 trillion

Energy and resourcesThe UK, and Western and Northern Europe, are home to major international mining, oil

and gas companies. Exports from this sector represent more than 50% of the nominal

value of all Queensland merchandise exports to Europe. Queensland LNG exports continue

to emerge as an interim source of cleaner carbon fuel while the Eastern Europe mining

sector offers significant opportunities for Queensland METS companies.

Investment/financial servicesThe EU is one of the world’s largest markets for fund management and is a leading centre for

foreign currency exchange, world trade finance, and hedge fund, sovereign wealth, private

equity and pension funds management. There are significant opportunities for Queensland project proponents seeking capital raising in infrastructure, agribusiness, resources and

technology. Opportunities exist for innovative technology providers to enter Europe via London, which is emerging as a global leader in Fintech.

Food and agribusinessOpportunities exist in fresh produce, meat and

processed foods. Investment interest and awareness has increased via leading international forums such as the Global Ag Investing Europe (GAIE) conference in London and successful investments in significant

Queensland projects. The recently published Australian Tax Office farmland register shows 13.6%

of Australia’s farmland is foreign-owned with UK-based investors owning the largest proportion i.e.

27.5 million hectares or almost 53 per cent of that portion. The greatest portion of foreign-owned

agricultural land is in Queensland.

NOW MID TERM LONG TERM• Processed food• Infrastructure, transport & logistics• Coal, LNG• Education & training• METS, mining and advanced

manufacturing• Technologies & financial services

• Security & defence• Innovative technology• Scientific R&D collaboration• Tourism investment• Agribusiness

• Renewable energy• Innovative technology• Shale oil and gas

Current opportunities

Future opportunities

The sustained low interest rates in the EU and many of the broader European economies provide opportunities for increased FDI for Queensland as better yields are sought in areas such as infrastructure investment. The Spring 2016 European Economic Forecast report predicts growth of 1.8% during this year, strengthening in 2017, supported by lower oil prices, low inflation and improving financial conditions. There are many opportunities in Europe to leverage the Advance Queensland initiative.

UK assets under management6

UKnet food and drink

importerEU target by 20205

Trade & Investment Queensland, Europe and Sub-Saharan Africa Office

Queensland Government Office The Australia Centre Strand London, WC2B 4LG United Kingdom

Trade & Investment Queensland, Brisbane Office

Level 10, 1 William Street, Brisbane Queensland 4000 PO Box 12400 George Street, Brisbane Queensland 4003

Trade & Investment Commissioner for Europe and Sub-Saharan AfricaAgent General for Queensland

Ken was appointed the Queensland Government’s trade and investment representative in July 2011 and is based in London. The office is responsible for the UK, Europe, CIS and Sub-Saharan African markets. Prior to this appointment as Agent General, Ken was Director-General of the Department of the Premier and Cabinet or head of the Civil Service in Queensland.

Ken has also served as Queensland’s Coordinator General and Director-General of the Department of Infrastructure. In this role he was responsible for project assessment and approval of major projects from both private and public sector proponents. As a senior civil servant in Queensland over more than two decades, Ken has taken a lead role in many fundamental reforms.

His six years as Director-General of Education and Employment and Training was highlighted by the landmark Education and Training Reforms for the Future which drove the implementation of fundamental changes to early, middle and senior phases of schooling. Ken was awarded the Centenary Medal in 2001 and is a Fellow of the Australian College of Educators, Australian College of Educational Leaders, and has held Adjunct Professorial positions at a number of Universities in Brisbane and Sydney.

Ken Smith

TIQ

-16-

1108

ken.smith@tiq.qld.gov.au

+44 (0)20 7420 8760

+44 (0)755 7285 648

1. Statistics sourced via DFAT website and World Bank

TradeandInvestmentQld

@tradeinvestqld

tiq.qld.gov.au

Trade & Investment Queensland

tiq.info@tiq.qld.gov.au

+61 7 3514 3147

Key Activities1

2

3

4

5

Web Summit – Portugal, Nov 2016

European Association for International Education (AEIE) – UK, September 2016

World Agri-tech Summit – UK, Nov 2016 and Global Ag Investing Europe – UK, Dec 2016

Paris international Air Show – France, July 2017

London Technology Week, June 2017