$20 Million Budget Package to Help Exporters Reap Rewards of Free Trade Agreements

Export opportunities will be transformed into export deals with a $6.1 million Australian Government Budget initiative designed to help Australian businesses capitalise on improved market access to China, Singapore, Thailand and the United States.

Trade Minister Mark Vaile said the initiative would help Australian businesses secure trade opportunities arising from the successful conclusion of free trade agreements with Singapore, Thailand and the United States as well as from China’s accession to the World Trade Organization.

Austrade will allocate an additional $13.5 million over four years from existing resources to the initiative, bringing the total package of support to nearly $20 million.

“The free trade agreements recently negotiated by this Government open the doors to some of our most important trading partners and this measure will help turn those export opportunities into export deals,” Mr Vaile said.

“This important Budget measure reinforces the Government’s trade policy agenda by delivering real outcomes to Australian business.

“A number of new export advisers will be appointed to help communities in regional Australia diversify and look internationally. This will breathe new life into communities faced with the challenges of drought and industry reforms.

“Austrade’s Professional Services Campaign will receive a significant boost, equipping accountants and solicitors with the skills to advise local businesses on how to enter international markets.

“A widespread education campaign will be rolled out over the next four years to ensure companies, particularly those in rural and regional areas, have information about exporting and the steps required to achieve international success.

“Resources in overseas Austrade offices will also be bolstered to accommodate the increased demand.

“This measure is a significant step towards achieving the Government’s goal of doubling the number of exporters by 2006. Local job opportunities and the nation’s economy are set to benefit.”

Media contact: Matthew Doman (Minister's Office) + 61 2 6277 7420 or Jemima Lohse (Austrade) +61 2 9390 2703