Successful in Oceania: exploring market opportunities – IHK Kassel-Marburg

More than 500 German companies from various industrial sectors are already successfully represented with branches in Australia. Due to its legal certainty and political stability, New Zealand offers, among other things, an ideal platform for testing new products and prototypes. In some respects, Australia and New Zealand are similar: they are the largest economies in Oceania. They are also members of the Commonwealth of Nations and share similar histories and cultures.

Australia offers great potential

Despite a hard and fast lockdown in early 2020, the economy collapsed by 4.5 percent and brought Australia its first recession in almost three decades. In December 2020, however, it was already over and the fifth continent is again looking to the future with optimism. Commodities such as iron ore, coal and rare earths as well as agricultural products such as beef and wheat are exported. The country imports chemical products, vehicles, machines and plants as well as high-precision analysis devices, including from Germany. Australia also felt the vulnerability of supply chains. The digitization of supply and value chains, for example in the food and raw materials sector, as well as software-based solutions for the health, finance and insurance sectors in Germany are becoming increasingly important. In addition to long-term and sustainable supply relationships, technological innovation and quality “made in Germany” are important factors for local success. A free trade agreement should have a positive effect on trade between Australia and the EU. The progress of the negotiations so far suggests that the formal negotiations will be completed by mid-2022 at the latest. Once ratified, the agreement could enter into force in 2023.

New Zealand: Liberal leitmotif

Over the past 30 years, New Zealand’s economy has evolved from one of the most heavily regulated in the Organization for Economic Co-operation and Development (OECD) to one of the most liberal economies. Excellent growing conditions, sophisticated cultivation methods and advanced agricultural technologies offer the ideal environment for grazing, forestry and horticulture. primary

Commodities, industrial raw materials and metals make up about half of all goods exports. New Zealand is also one of the top five milk exporters in the world. Tourism, film production and winemaking are also important, alongside sizeable service sectors and growing high-tech skills.

Invest in renewable energy

For the International Energy Agency (IEA), New Zealand is a “success story for the development of renewable energies”, as it offers a multitude of opportunities, for example for investments in innovative cleantech technologies or the production of green hydrogen. Although the economy contracted 11 percent in the first and second quarters of 2020, New Zealand avoided the technical recession. In the third quarter of 2020, gross domestic product grew by 14 percent, with retail, construction, accommodation and manufacturing making the biggest contributions. New Zealand – a popular destination for foreign investment – has numerous trade agreements with other nations. Consultations for an agreement with the European Union and Great Britain are ongoing.