Australia's trade and investment relationships with countries of the Middle East—2014 Inquiry

Submission Overview

Australia generally enjoys good relationships with the countries of the Middle East. This is driven largely by Australia’s expanding trade with the region as well as common interests, such as regional security.

According to the Department of Foreign Affairs and Trade’s (DFAT) Composition of Trade Australia 2012/13 report, Australia’s total exports to the Middle East were estimated at A$7.89 billion, while Australia’s total exports to the Gulf Cooperation Council (GCC), which consists of the United Arab Emirates (UAE), Saudi Arabia, Qatar, Oman, Kuwait and Bahrain, were valued at A$6 billion. The top Australian exports to the GCC countries include motor vehicles, meat (excluding beef), beef, wheat and live animals. Clearly, as exports of motor vehicles are likely to reduce in the immediate future with the closure of Australian manufacturing, the focus will turn to other existing exports as well as developing trade in the export of services.

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Ed Serrano
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VEKTA Advanced Automation
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Export Finance Australia Oct 2020