The South Australian Premier, Peter Malinauskas, has announced the establishment of a trade office in Frankfurt, as part of a trade mission with a specific focus on South Australia’s world-leading plans for green hydrogen. This will make South Australia the fourth state with a presence in Germany, joining New South Wales, Victoria, and Queensland.
The German office will join other South Australian trade offices in key economies across the world, including the UK, US, China, India, Japan, South Korea, Singapore, Malaysia, and the United Arab Emirates. The aim is to commence the office as soon as possible and begin recruitment.
Germany is South Australia’s eighth-largest trading partner, with two-way trade worth $622 million. There are currently 67 German companies with a physical presence in South Australia, making it third after the US and UK in terms of German presence. The establishment of the office in Frankfurt is significant since Germany is the biggest economy in Europe, with a GDP worth more than $4 trillion, said the Government of South Australia.
Moreover, Germany is facing an energy crisis due to Russia’s invasion of Ukraine and is aggressively pursuing the development of green hydrogen energy as an alternative energy source. Germany is the biggest player in Europe when it comes to green hydrogen, with strong potential for investment related to South Australia’s Hydrogen Jobs Plan. This makes it the right time for South Australia to establish an office in Germany and take advantage of the opportunities available.
Peter Malinauskas, the Premier, noted that with the world reopening post-COVID, it is vital that South Australia has a strong presence in key economies worldwide. He added that South Australia’s trade office in London has already promoted significant investment in the state.
This new office will help build stronger ties across continental Europe. Nick Champion, a member of the Australian Parliament, pointed out that with the advent of Brexit, it is important for South Australia to have a presence within the European Union, as well as the United Kingdom. He added that Australia’s biggest states already have a presence in Germany, and South Australia needs to compete in the same space to secure investment.
