Trade Talk, 25 August 2016
Small businesses benefit from new export loan
Twelve new Efic Small Business Export Loans have been approved giving recipients access to up to $250,000 to support an export contract. Applications came from all states and a cross-section of industries including manufacturing, tourism, agri-business, wine, education and health and beauty, Minister Ciobo said.
Enhancing economic integration in the South Pacific
Minister Ciobo will attend a Special Forum Trade Ministers' Meeting on the Pacific Agreement on Closer Economic Relations Plus in Christchurch, New Zealand. This FTA has the potential to reshape the economic fundamentals of the Pacific region, creating new opportunities for trade and investment that will drive economic growth within the Pacific Islands Forum countries Mr Ciobo said.
Fruit export opportunities in Asia
The trifecta of Australia's North Asia FTAs has resulted in practical benefits for export products important to Queensland, including in fresh fruit. Assistant Minister Pitt and Michelle Landry MP recently met with Central Queensland tropical fruit farmers to discuss the market opportunities available. Tariffs have now been cut on products such as mangoes and shelled macadamias.
Malaysia & Vietnam country starter packs
Asialink Business has launched two new Country Starter Packs to help Australian businesses access both Malaysia and Vietnam's diverse market and consumers. Malaysia is a newly industrialised economy with a relatively high GDP growth rate and well-educated population while Vietnam is projected to remain among the world's fastest growing economies over the next decade.
Australian businesses are operating a portfolio of international activities
The results from the Australia's International Business Survey 2016 confirm that respondents had engaged in a diverse range of cross-border interactions in the previous year, with 96% of survey respondents involved in exporting and 54% in importing. Only 22% of respondents were 'pure' exporters while 24% were involved in both exporting and importing. And 9% of respondents were involved in exporting, importing, investment and other activities, writes Austrade Chief Economist Mark Thirlwell.
Did you know?
Over $1.8b worth of Australian fruit and nuts were exported in 2015. Top three destinations savouring these products were Hong Kong ($235m), India ($201m) and China ($139m).
Upcoming Trade Events
Know-How for Inbound Tourism Excellence program
Melbourne VIC, 21 September 2016
This program by the Australian Tourism Export Council helps businesses connect with the international tourism market. The Know-How for Inbound Tourism Excellence or KITE program prepares tourism businesses for international readiness, providing market specific insights and specialist topic webinars. Visit the registration page to search for further dates and locations.