Significant new deals and international collaborations have come out Victoria's biggest inbound trade mission that will boost trade and investment for local businesses to grow and create new jobs.

Almost 300 delegates from 24 countries participated in the Victoria Invitation Program (VIP), the state's flagship inbound trade mission over the past 2 weeks.

Deals announced during this year's VIP included:

  • Breakthrough agreement between the Victorian Government and Indonesia's Financial Services Authority (OJK), allowing greater collaboration in the financial services sector to pave the way for Indonesian banks to expand in Victoria
  • First-of-its-kind eCommerce partnership between the Government and Australia Post to help Victorian businesses tap into China's A$550 billion online shopping market
  • New partnerships between Japan's Wingarc1st and Melbourne's Quantum IT on the development of a cloud-based analytics platform, and between WingArc1st, NEC Australia and Melbourne's Genix Ventures to launch its solutions in Australia as a first step towards a global rollout
  • Collaborative project on Alzheimer's research and imaging technology between the Florey Institute and the National Brain Research Centre of India
  • India's GVK EMRI, operator of the world's largest ambulance fleet, partnering with Victoria to leverage our world class trauma and emergency systems
  • Global IT taking first steps to major planning deal that will see a digital health lab open in Melbourne

Video: Victoria's trade relations with Indonesia

Buyers and investors from the world's largest markets, including China, Japan, Indonesia, India, the UAE, and the US visited Victoria through the VIP to see firsthand how the state is leading in key sectors such as medical technology and pharmaceuticals, international education, professional services, retail and food and fibre.

The countries attending this year's VIP program represent more than 70 per cent of Victoria's A$90 billion total two way trade.

Victoria's packed major events program played a major part in the success of the trade mission, being topped and tailed by the Virgin Australian Melbourne Fashion Festival and the Formula 1 Rolex Australian Grand Prix.

Over 500 local businesses also participated in the VIP, connecting with international buyers and attending seminars to help them be export ready.

The VIP is now in its second year, and forms a part of the State Government of Victoria's A$12 million initiative to build a strong and sustainable inbound trade mission program.