Every day Aussie businesses export some of the world's best agricultural, industrial and technological products to every corner of the globe. With one in three Australian jobs supported by trade, the Albanese Labor Government has been working to strengthen our existing trading relationships and develop new ones internationally.
In uncertain times in global trade, diversification of our trading relationships has never been more important. That's why in April, Labor committed to five business and investment missions to priority markets, as well as $50 million to create additional opportunities for local businesses.
This week, the first of these trade missions will travel to the United Kingdom to help Australian businesses discover new opportunities and accelerate our ongoing trade diversification efforts.
The first mission brings together representatives from 20 of Australia's leading healthcare and MedTech companies. They will visit the United Kingdom to take part in London Tech Week 2025 and NHS ConfedExpo 2025 in Manchester.
It comes as Australia and the United Kingdom mark the two-year anniversary of the implementation of the Australia-UK Free Trade Agreement, which is delivering outstanding results for Australian business.
For example, Australian beef and veal exports to the UK were worth A$97.8 million in 2024, which is more than double that of the previous year (2023), and around eight times what they were worth in 2022.
The UK has so much more to offer Australian exporters, and this business mission focused on health and medical technology will help unlock more jobs, more growth, and more certainty for our business.
Australia ranks 5th globally for healthcare innovation and we're home to around 700 biotech and MedTech companies. Our world class healthcare and MedTech companies are already making a difference in the UK, including across flu vaccines, pandemic preparedness, and cancer care.
Australian and UK companies are also increasingly collaborating in critical technology sectors including quantum, cyber and AI.
To assist export ready Australian tech businesses expand into the UK market, Australia, through Austrade, will be launching a new London Landing Pad program later this month.
I wish the Australian businesses all the best and look forward to successful outcomes.