Queensland,medical technology sector, in vitro diagnostics (IVD) sectors,
and natural health, nutraceutical and complementary medicine
space call Queensland home.
–Overview Table 3: Queensland – Fact Table
Capital city Brisbane
2:Population Queensland 4.9 million
Section Brisbane 2.4 million
Currency Australian Dollar
Legal System Westminster System
International Airports Brisbane, Cairns, Gold
Average daily temperature
Summer: 20 – 28°C
Winter: 10 – 21°C
Annual population growth 1.68 per cent
5.7 per cent
Gross State Product AU$305.4 billion
International export of
2.2.1 Location in Asia
Australia's location in South East Asia (refer to Figure 6) makes it an
excellent choice for international companies wishing to collaborate,
invest or establish operations in the Indo-Pacific region.
To aid and assist this global investment, the Queensland
Government has established a number of Trade and Investment
Offices throughout Asia and in key overseas export and
investment attraction markets for Queensland.
Recent market research has also suggested that Queensland
and Australia have the potential to double the value of R&D work
currently being undertaken as a whole. In addition to this, the
extra capacity for translational and clinical research in Australasia
represents a strategic opportunity for Asian and Western
biopharmaceutical and medical device companies to access
quality researchers and reduce time-to-market. Australia can
serve as a stepping stone to these markets since data generated
in preclinical and clinical studies in Australia are generally well
received by the American and European regulators.
2.2.2 Australia & Queensland in the Asian
Asia’s transformation into the economic powerhouse of the
world is unprecedented and gathering pace.
As the global focus shifts to the Asian region, Australia finds itself
located in the right place at the right time. Australia’s proximity to
the Asian economy presents the nation with a great opportunity.
22 Remember – when you contact a Member, please tell them you found them in the 2018 LSQ Member Directory Figure 5: Map showing Queensland’s Location
Table 4: Comparative Geographical Size of Queensland
Comparative Geographical Size of Queensland
Queensland covers 1,730,648 square kilometres and is
Australia’s second largest state
More than 7 times the size of the UK
More than 6 times the size of New Zealand
More than 4.5 times the size of Japan
More than 2.5 times the size of Texas
Figure 6: Queensland’s proximity to Asia
Australia’s geographic proximity, depth of skills, stable institutions
and forward-looking policy settings place it in a unique position
to take advantage of the growing influence of the Asian region.
Australia must actively participate in and benefit from an Asia-driven
Australia has signed a number of Free Trade Agreements
with Asian countries including China, Japan, Korea, Malaysia,
Singapore, Thailand, as well as, the United States, New Zealand
and the Association for Southeast Asian Nations (ASEAN).
The Asian Century also presents a great opportunity for
Queensland. The State’s location on the doorstep to Australia’s
connectivity to the Asian region, coupled with our sustainable
competitive advantages, such as our resource endowments,
agricultural expertise and fantastic tourism offerings, provide
Queensland with limitless opportunities to take advantage of
trade with Asia.