South Australia will expand its presence in the United States by opening a trade and investment office in Washington DC.
The United States is the state's second largest export market, with the value of goods exported into the country estimated at $1.52 billion for the year ending March 2023. The US is also South Australia's single largest foreign investor.
In recent months, Australia’s connection with the United States has strengthened in the wake of the AUKUS agreement, which will have nuclear-powered submarines constructed in South Australia.
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 announcement follows news that a South Australian trade and investment office will also be opened in Frankfurt, Germany.
The German Business Chamber of South Australia (GBCSA), which fosters commercial relationships between Australian and German businesses, has welcomed the news.
Vice president Elijah Eilert, commenting on behalf of the GBCSA’s board, said the Frankfurt office demonstrated the importance of South Australian and German economic relations and the opportunities for further collaboration.
“There are long-standing, excellent relationships between South Australian and German organisations, particularly in the areas of health, renewable energy, manufacturing and advanced technologies," Mr Eilert said.
"The trade office will continue to strengthen and further develop these good relationships, and actively promote South Australian skills, resources and capacity in Germany and in the EU.”
There are currently 67 German companies with a physical presence in South Australia – only the US and UK have more.
South Australia has a strong trading partnership with the country, supplying Germany with rapeseed, canola, almonds, wine, wool and other animal hair, and motor and other vehicles, worth $88.1 million to the year ending April 2023. The value of goods exported to Germany, year ending April 2023 is $111.1 million – up 22% on the previous year
In turn, Germany supplies plant equipment, chemical products, motor and other vehicles, and mechanical parts to South Australia. The value of goods imported from Germany in the year ending April 2023 was $534.4 million – up 37% on the previous year.
The German office will join other South Australian trade offices around the globe, in the UK, US, China, India, Japan, South Korea, Singapore, Malaysia and the United Arab Emirates.
The State Government will now begin recruitment for the Frankfurt office, with the aim of commencing as soon as possible.
South Australia is the fourth state with a presence in Germany, joining New South Wales, Victoria and Queensland.
