Grants to help Australian businesses expand their links in Asia have been awarded to 18 member-based organisations, under the Asian Business Engagement Plan program.
Minister for Trade and Investment Andrew Robb said the grants will help further open up key Asian markets for Australian businesses and organisations in areas such as agribusiness, science and innovation and services covering tourism, education, professional services, engineering and built environment.
“The Asian Business Engagement Plan will also assist Australian business to pursue opportunities created by the successful conclusion of bi-lateral trade agreements with both Korea and Japan – two of our biggest trading partners,” Mr Robb said.
For example, Bundaberg Fruit and Vegetable Grower’s Co-op will receive $80,000 to build strategic partnerships with organisations in Korea and China, while the Australian Horticultural Exporters Association will develop online knowledge-sharing resources between exporters and Asian counterparts.
Mr Robb said there are identified opportunities for Australian firms, producer groups and creative industries to provide high-value goods and services to regional value chains, leading to greater integration into Asian markets of our small to medium enterprises.
Australia’s trade links with Asia are expected to represent at least one-third of GDP by 2025, up from one-quarter in 2011.
The $1.5 million Asian Business Engagement Plan is a merit-based competitive program administered by Austrade. Successful applicants have come from metropolitan and regional Australia and will develop programs to create trade, investment and export opportunities in Asian markets.
