Overview
The legal services sector plays a critical role in Australian society and the Australian economy with about 55,000 Australian legal practitioners. However, a relatively small number of lawyers in Australia are involved in trans-national legal practice.
In 2004-05, Australian legal services exports totalled A$230 million. Eight or more Australian law firms maintain, or operate from a foreign law firm office in China (excluding Hong Kong SAR) while many others conduct business without a direct commercial presence.
Australian law firms are internationally competitive in a wide range of corporate, banking, finance and business law services, as well as in new and emerging areas of law. They also have a world class reputation in other areas of law such as intellectual property, environmental and resources law, infrastructure, telecommunications and mergers and acquisitions.
What are the key opportunities?
Overseas opportunities are predominantly available for firms with sufficient capacity to open fully fledged offshore offices. The other major growth area is in servicing foreign clients who need to do business in Australia. This is a mode two export in terms of the WTO.
Other opportunities include areas such as legal education and training, commercial dispute resolution, and technical assistance and loan/financial projects by international development and financial institutions. The Asian Development Bank and World Bank both offer these assistance programs and Australian law practices have won work in Vietnam, China, Indonesia, Pakistan and the Central Asian republics.
Where are the key opportunities?
Priority markets with the greatest opportunities for Australian legal services include:
- Hong Kong
- China
- Singapore
- Thailand
- Indonesia
The USA and UK are also major markets for legal services in terms of investment in Australia.
How can we help you?
With a network of over 140 overseas locations in more than 60 countries backed by highly experienced and qualified staff, Austrade provides a number of dedicated and tailored services to Australian exporters.
Austrade also works closely with the International Legal Services Advisory Council (ILSAC) and has helped organise offshore legal missions with ILSAC. Countries visited to date include China, India, Thailand and Malaysia.
For further information please contact Austrade on 13 28 78 or email info@austrade.gov.au.
Useful contacts
Austrade’s legal services contact
Lloyd Downey
Tel: +61 2 9390 2776
Email: Lloyd.downey@austrade.gov.au
Government contact
Attorney-General's Department – www.ag.gov.au
General industry contact
International Legal Services Advisory Council - www.ilsac.gov.au
Law Council of Australia - www.lawcouncil.asn.au
Last updated: 30 Jul 2008
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