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Victoria's Government Advances Strategic Economic Partnership with France

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A Strategic Economic Journey with Victoria's Collaboration with France.

The Victorian Government has formed a significant partnership with France to strengthen economic ties.

Treasurer Tim Pallas announced the signing of a Letter of Intent between Victoria and France, focusing on key areas such as energy transition, science, innovation, technology, culture, sport, education, and health.

This agreement strategically positions Victoria for enhanced trade and investment with France, a crucial European partner. In 2022-23, two-way merchandise trade between the regions amounted to $2.1 billion, and France has invested $5.4 billion in Victoria over the past six years, resulting in the creation of over 1,300 jobs.

Prominent French organisations, including CNRS and EDF, have selected Melbourne for their Australian headquarters.

Victoria's new Trade and Investment office in Paris, inaugurated this year, aims to facilitate economic opportunities and raise the profile of Victorian businesses in the European Union.

Since March, the Paris office has conducted successful trade missions, coinciding with the visit of French Minister of Foreign Affairs, Catherine Colonna, to Australia. The partnership underscores shared policy priorities and represented a significant step in fostering stronger economic relations.

Tim Pallas, Victorian Treasurer, stated: 

"Our collaborative approach to trade and investment is supporting Victorian jobs and offering opportunities for business growth (...) We recognise the importance of France on the world stage and the strong relationship that Victoria and France share is set to grow further."

Jean-Pierre Thébault, French Ambassador to Australia, said: 

"The Letter of Intent, which is the first of its kind between France and an Australian state or territory, provides an ambitious framework for co-operation between France and Victoria.” 

Source: Premier of Victoria

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