Australia and New Zealand

Australia has proven to be an appealing and profitable market for U.S. companies for many years. Australia is an open market with minimal restrictions on imports of goods and services. It offers very few barriers to entry, a familiar legal and corporate framework, and a sophisticated yet straightforward business culture. While it is important to understand and appreciate Australia’s cultural differences, the long and successful history of U.S. firms in Australia suggests that other U.S. companies will also find this market to be rewarding and attractive. Although modest in size, New Zealand shares similar economic and cultural characteristics to those of the U.S. Going from one of the most regulated economies in the OECD 25 years ago to one of the least regulated now, New Zealand has proven to be one of the most resilient OECD economies, providing a growing and stable platform for both new and experienced Wisconsin exporters.

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While Australia is distant from major world markets, it is nevertheless well integrated into global markets. Australia is strategically positioned close to Asian markets that are driving fast-growing global food demand, and the industry requires innovation across all aspects of production and the supply chain. Rich in natural resources, Australia has strong mining and agricultural sectors that require industrial machinery—an area of expertise in Wisconsin. Over the last several decades, Australian manufacturing of high-tech goods, electronics, industrial tools, equipment and machinery has declined to levels where it is necessary to engage with international suppliers to meet local market demand. High labor costs and energy costs, as well as geographical challenges, are prompting Australian companies to look abroad for new products and solutions in areas such as robotics, automation, remote monitoring and predictive maintenance.

image with charts and numbers related to Australia's exports to Wisconsin in 2018See Global Market Updates for Australia

The views or opinions expressed here are solely those of the author(s) and do not reflect those of WEDC. WEDC is not responsible for the contents nor does WEDC guarantee the accuracy, completeness, timeliness or reliability of this information.