The New South Wales (NSW) Government plans to open an international business office in the United States in the next few months, Deputy Premier and Minister for Trade and Investment Andrew Stoner has announced.
"We anticipate opening an office in San Francisco by January at the latest," Mr Stoner said.
"The United States is the largest of NSW's established markets and is Australia's largest foreign direct investor. The San Francisco office will drive investment, and promote exports and the research and development capabilities of our key industry sectors. These include digital services, ICT and financial services where we have a competitive advantage.
"San Francisco is the ideal US location for our office because of emerging industries concentrated around venture capital and ICT hubs in Silicon Valley. The San Francisco Bay area and Silicon Valley are home to more than 4,000 information technology firms, including many industry leaders.
"California itself is the world's ninth largest economy, with a gross state product of US$1.9 trillion in 2010.
"Establishing an on-the-ground presence will allow the NSW Government to effectively promote, access and maintain key corporate and government relationships and match NSW strengths to opportunities in the US."
Mr Stoner said the opening of the San Francisco office would increase NSW's network of international business offices to five. "Our existing offices are in Guangzhou and Shanghai in China, Mumbai in India, and Abu Dhabi in the United Arab Emirates − all major international business centres that are key markets for our State."
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