Budget 2022-23 Announcements Relating to International Trade
The Budget 2022-23 announcement addressed several pressing trade-related issues, including those that we strongly advocated for on behalf of exporters. International businesses will be supported through various initiatives such as the expansion of the Export Market Development Grants (EMDG) scheme, enhancement of the Simplified Trade System, and sponsorship of agricultural trade events that will promote export-focused agricultural goods and services. However, the Budget also acknowledges that world GDP growth will likely be lower, global inflation will be higher, and supply chains will remain constrained. So, the global economic landscape will continue to be tough for Australian exporters.
Exporters Must Pivot to New Markets
Recent official Chinese messaging suggests that our bilateral relationship has now entered a new low. Without doubt, China’s recent actions, including restrictions imposed on particular Australian exports, are deliberate. We suspect that the relationship has now changed in character for the foreseeable future. We advise Australian exporters to brace for a longer period of contention.
Study into the Experience of Australian Firms Enforcing their Intellectual Property Rights in Asia
To better understand the risks that business’ face, we reached out to Australian exporters about their experience with enforcing their brands, inventions, and designs in Asia. 125 survey responses from Australians operating in or trading with South East Asian countries and China showed 48 per cent did not engage with government services to access information on IP. We also found most exporters surveyed did not register their IP before going overseas.
Indigenous Exporters Part of Australia’s Economic Recovery
Indigenous businesses can grow much more and make even more significant contribution to the Australian economy, including by engaging in international trade and expanding their markets overseas. They just need some extra capacity-building, supportive networks and a conducive trading environment. Recognising this potential, the Export Council of Australia (ECA) and the Indigenous Network for Investment Trade and Export (IGNITE) have formed a strategic partnership.
Resilient Supply Chains May Depend on Trade Single Window
Ongoing restrictions to contain Covid-19 and adverse competition between major trading economies are pushing Australian businesses to reconsider their global supply chain strategies. As they contemplate alternative operational locations and new sources of supply, they are looking to Government for supportive policies and programs. The Export Council of Australia therefore welcomes the 2020-21 Budget allocation of $28.6 million to implement a simplified trade system.
Economic Recovery Requires Export Focus [Budget 2020-21]
This Budget mostly delivers the right ingredients for SMEs to keep functioning in the short-term, the next phase will be to ensure they become competitive and successful in the global context. Exports make a significant contribution to the Australian economy, generally representing more than 20% of Australia’s GDP, but they have been impacted by Covid-19.
Economic Recovery will Require Leadership in Trade
As the voice for Australian exporters, the Export Council of Australia calls on the Australian Government to take immediate action to develop and implement a comprehensive and practical trade-led economic recovery package. We recognise the challenges and constraints faced by the Government but, now more than ever, they need to lead here and internationally.
Export Council of Australia Partner with Gandhi Creations to Create New Opportunities to Position Australian Businesses on a Global Context
Across several national projects and initiatives, the Export Council of Australia (ECA) will be partnering with NSW based multi-award-winning social enterprise, Gandhi Creations, to further enhance bilateral trade relationships between Australia and nations across the globe.