24 October 2008
'Future Champions' highlight the importance of service-based exports and a Whole of Government approach
The Minister for Trade, Simon Crean, today launched The Diplomat Future Champions 100 list published by The Diplomat Magazine, which profiles the strength and diversity of Australia's new generation of exporters.
“The Diplomat Future Champions are the top 100 Australian businesses that have grown their export and offshore earnings rapidly to become serious global players and are well positioned for continued growth,” Mr Crean said.
“Two thirds of these 'Future Champions' are service-based companies - from used goods retailing to IT and specialised consulting.
“These companies are adding value and jobs to Australia's economy. They demonstrate that the nature of trade is changing. It's about more than producing and shipping goods. It's increasingly about trading services, capital flows and positioning in global supply chains.
“Australia's 'Future Champions' reflect the fact that successful globalising Australian firms now earn revenue from participating in global supply chains and investing offshore.
“The 'Future Champions' demonstrate an increase in service-based exporters. A significant finding of the report is the relative strength of high-value added services firms in areas such as IT, engineering services and business consultancy.”
Taken together, the 'Future Champions' produced $6.7bn in revenue, of which almost half, or $3.2bn, comes from both export revenue and revenue earned by offshore subsidiaries, joint ventures and/or branches. Indeed, six of the companies on the list derive 100% of their revenue solely from overseas markets.
The Australian Government's export organisations, export credit agency EFIC and Austrade also welcomed the announcement by the Minister for Trade at the launch today of a new whole-of-government guide to export services.
Details of the new easy-to-use guide to services can be found at www.business.gov.au.The guide is designed to enable companies to tap into the Government's network of support, in Australia and overseas.
Media Inquiries: Mr Crean's office 02 6277 7420 - Departmental Media Liaison 02 6261 1555