Latin America has 21 countries with a population of almost 600 million people, predicted to reach 800 million by 2050. The region’s middle class has grown by 50% over the past decade and is now one-third of the population.
Priority Latin American markets for Queensland are Chile, Colombia and Peru.
TRADE
The priority markets have broad trade growth potential to provide the best opportunity for Queensland companies in:
- mining
- food and agribusiness
- infrastructure
- education and training.
Latin America’s tropical conditions make it a natural partner to collaborate with Queensland across several sectors.
For example, commonalities between Latin America and Queensland in agribusiness have the potential to expand biofuel production without diverting land from growing food.
There are 100 infrastructure projects in LatAm and the Caribbean valued at A$192 billion.
The projects are across a range of sectors, including:
- airports
- electricity generation and transmission
- information communication and technology
- oil and gas
- port and logistics
- rail, highways and bridges
- urban mass transit
- water and wastewater