Photo: IE Digital

Minister for Small Business, Innovation and Trade Philp Dalidakis formally opened the new Victorian Government Trade and Investment office while on a trade mission to the Americas.

The new office will promote Victoria’s medical technology and pharmaceuticals sector and help local companies expand into North America while encouraging foreign companies to invest in Victoria and create local jobs.

Victoria has the biggest network of international offices of any Australian state with the opening of Boston following office openings in Singapore and Santiago in the last 12 months.

The Victorian Government Trade and Investment network connects Victorian businesses with international buyers and industry partners and provides market insights and guidance to help businesses compete all over the world.

The Boston office expands Victoria’s presence in North America, adding to the existing network of offices in San Francisco, New York, Washington and Chicago.

The United States is a key export market for Victoria with the value of exports in 2016/17 climbing nine per cent to $3 billion, driven by fast growing exports of pharmaceuticals.

The new office will have a team of experts supporting Victoria’s medical technologies and pharmaceuticals sector and facilitating trade, investment, research and clinical trial opportunities between North America and Victoria.

Victoria is globally recognised for its excellence in medtech and pharmaceuticals, with a highly skilled workforce, quality education providers, leading research institutes and a sophisticated health system.

The sector is growing fast and is a major contributor to the strength of the Victorian economy, generating revenue of nearly $13 billion a year and employing 23,000 people.

The Labor Government has developed a detailed sector strategy for medtech and pharmaceuticals, which it has identified as a key growth sector and is supporting through the Future Industries Fund.