Expo Dubai serves up global NSW food and beverage opportunities
NSW is positioned to grow its share of the A$16 trillion global food and grocery market thanks to an extensive Agrifood Program under way this month at Gulfood and Expo 2020 Dubai in the United Arab Emirates.
Minister for Enterprise, Investment and Trade Stuart Ayres said a Memorandum of Understanding signed this week between the NSW Government and the United Arab Emirates Food and Beverage Manufacturers Group (UAE FBMG) provides NSW businesses with a strategic advantage in the supply of ingredients, new innovations and agritech solutions as UAE takes steps to progress its food security agenda.
“Under the NSW Trade Statement, we’re committed to doubling the state’s exports to A$200 billion by 2031. Food and beverage is one of the key sectors we’re targeting for that growth, also in line with our 2040 Economic Blueprint priorities,” Mr Ayres said.
“Our leading research and development capability, diverse climatic zones and fast-growing manufacturing industry produce a fantastic range of great-tasting, high-quality food and beverage products.
“Together with a long-standing reputation for innovation and food safety, they also present unparalleled opportunities for partners from around the world to collaborate and invest in future growth.”
Investment NSW showcased 22 top agrifood companies at Gulfood 2022 last week, promoting the state’s leading products and capability at the world’s biggest food and beverage sourcing event.
This week, as well as signing the MoU with UAE FBMG, the agency helped another six companies pitch their businesses to high-profile international investors.
Selected via competitive qualifying events, the six received coaching and help to produce professional videos to support their pitches, which were presented at a special NSW Government Agrifood VIP Event at the Australian Pavilion at Expo 2020 Dubai.
Investment NSW offices in NSW and Dubai will continue to promote investor and customer interest in NSW food and beverages, including working with Gulfood and Expo 2020 Dubai participants to maximise commercial opportunities arising from the engagements.
Attracting exhibitors and leading business and government figures from 120 countries, Gulfood is one of the largest annual industry events in a sector forecast to grow by around five per cent per year over the next five years.
As well as engaging with international buyers and investors at events like Gulfood, Minister Ayres said that the NSW Government is working to ensure producers have the infrastructure and support they need to explore new markets offshore.
“We’re creating a world-class agribusiness precinct in the Western Sydney Aerotropolis that will support production of sustainable, high-quality, fresh produce and pre-prepared consumer foods, boosted by the high-speed supply chain capability of the new 24/7 international airport due to open in 2026.
“We are also developing regional Special Activation Precincts strategically located near major commodity growing regions with access to global transport and logistics and research and development capability.”
To find out more about agrifood investment opportunities in NSW visit www.investment.nsw.gov.au/living-working-and-business/sector-opportunities/agrifood-in-nsw.