International Trade

The Hon. P. CAICA (Colton) (14:35): My question is to the Minister for Investment and Trade. Which goods have contributed to the increase in South Australia's trade with Singapore and Malaysia?

The Hon. M.L.J. HAMILTON-SMITH (Waite—Minister for Investment and Trade, Minister for Small Business, Minister for Defence Industries, Minister for Veterans' Affairs) (14:35): I thank the member for Colton for his question. Not only is he an accomplished fisherman—world recognised, a world champion—he is also representing a very multicultural electorate with a big focus on small business and international engagement.

There has been significant growth in Singapore and Malaysia exports. These are very important trading partners for South Australia, with Malaysia ranking as our third biggest export destination and Singapore our fifth largest trading partner. Our exports to both countries have experienced a significant increase in 2015-16, and that is in the context of significant growth across all sectors.

The ABS have recently confirmed that exports have risen to $15.12 billion in the 12 months to March 2017. I can point the page out to the member for Chaffey, if he would like to read it. The latest services exports of South Australia for the 2016 calendar year show an 11 per cent increase, faster than the national rate of 9 per cent, to $2.657 billion, so we are outperforming the nation in services exports.

Strong growth in volumes of exports is counterbalancing price falls in some categories, and 72,000 jobs now hinge on selling our goods and services overseas. For example, wine exports are up 11 per cent, or $147 million to $1.487 billion. In fact, wine is now a bigger export for us than minerals. This is a very significant development. It's the wining boom. Not the mining boom, it's the wining boom that is taking over.

Mr BELL: Point of order: I would hate for this to go on for 29 minutes. Could we have the other clock put up, thank you.

The Hon. M.L.J. HAMILTON-SMITH: I could easily fill 29 minutes talking about the government's success in helping small businesses—

The SPEAKER: But thou shalt not.

The Hon. M.L.J. HAMILTON-SMITH: —to grow exports. Goods sold to Singapore increased by more than 27 per cent, from $136 million to $173 million. Our top exports contributing to this growth were wine, valued at $55 million; meat, valued at $38 million; and vegetables, valued at $12 million. Added to the growth in merchandise sold, there is also growth in the services sector where South Australia welcomed 539 international students from Singapore last year.

Our exports to Malaysia increased by more than 24 per cent, from $652 million to $811 million. Our top five merchandise exports to Malaysia are copper, grains, lead, wine and meat, with wine valued at $51 million and meat valued at $42 million, experiencing significant growth in 2016. South Australia also welcomed 1,775 international students from Malaysia last year bringing to almost 35,000 the total number of young people renting, consuming and living in South Australia from overseas.

From 23 to 29 July 2017, I will lead a business mission to Singapore and Malaysia, the second of three state government business missions to South-East Asia in 2017. The purpose of the missions is, as requested by business, to enable them to go to these markets and to meet with buyers. It's about sellers meeting buyers. International missions created up to 1,500 business connections and 650 export leads to a value of $300 million in 2016. As I mentioned, there are 72,000 meals on the table every night flowing from this achievement.

The following sectors will be the focus of the Singapore and Malaysia mission: investment; agribusiness, food and wine; education and training; defence and advanced manufacturing; infrastructure and professional services; and tourism, arts and culture. A significant number of businesses have already signed up for this next business mission because business knows that government is there to support them to sell their goods and services to the 3.5 billion customers in our region, and that's exactly what we are doing.