We have an opportunity in the Northern Territory (the Territory) that is unique across Australia, given our geographic proximity to Southeast Asia, our biosecurity, natural resources, and political stability. The Territory offers an attractive environment for investors, incredible propositions for cultural engagement and activity and a platform for Territorians to transact and build their businesses globally.
The Territory is a significant contributor to Australia’s international trade.
This is demonstrated by our share of the country’s natural gas, mining, and live cattle export markets, including 20 per cent of the national exports of zinc ores and concentrates, 6 per cent of live animal exports and 3 per cent of aluminium products, while only accounting for approximately 1 per cent of Australia’s total population. The imperative for the International Engagement Strategy (the Strategy) is to respond to the demands of a changing world and harness the opportunities presented. The future resilience and prosperity of the Territory will be based on how well we engage with and respond to a climate of uncertainty and the opportunities presented.
The Northern Territory Government has a plan to strategically harness the Territory’s competitive advantages and expand its global reach as a response to changed market conditions.
The international engagement strategy 2022 to 2026 outlines the Territory Government's ambitious, yet achievable targets for Territory export growth while expanding our range of products and markets.
High priority markets identified in the strategy include:
- South Korea
- North America (United States of America and Canada).
Other priority markets have been identified by industry for sector-specific opportunities.
To harness the Territory’s natural strengths and expand our global reach through international trade, investment and engagement.
Support the Territory’s aim of becoming a $40 billion economy by 2030 by:
- increasing foreign direct investment
- increasing the value and diversity of Territory export products and markets
- strengthening international engagement with high-priority markets.