Whether you’re an existing exporter or new to the business, Australian trade services can bring new levels of export success. Here’s an introduction to the new State Focus series, starting with a snapshot of some of the trade services available Australia-wide.
Entering the world of exporting is a challenging and rewarding business, but achieving success in today’s highly competitive, evolving global markets depends on a range of factors, many of which are often underplayed.
Businesses sometimes assume success in international markets will be readily achieved because they have built their brand and established a market presence in Australia. Yet major success in international markets does not usually occur immediately, often requiring a long-term approach. Businesses can easily underestimate what is required, and fostering success requires specific strategies for different markets.
In addition to cultural and language issues, businesses need to focus on challenges relevant to their specific market such as foreign exchange movement, shipping and customs requirements to name a few.
Peter O’Byrne, CEO of the Australian Trade Commission (Austrade), says Austrade provides advice on these and other export topics helping businesses overcome hurdles, which are often overlooked, to succeed internationally. “Austrade staff can develop strategies and suggest plans which outline how to target markets, handling these issues before they occur,” he says. “This includes practical advice, market intelligence and ongoing support to Australian businesses looking to export. Austrade also provides advice and guidance on overseas investment and joint venture opportunities and helps put Australian businesses in contact with potential overseas investors.”
Austrade’s network includes more than 115 overseas locations in over 60 countries, backed by experienced and qualified staff, which O’Byrne says provides a number of dedicated and tailored services to Australian exporters.
At a domestic level, Austrade’s Australian network comprises 18 national offices and 50 TradeStart offices. “The TradeStart network works with state and territory governments, industry associations and regional development organisations to assist Australian business, in metropolitan regional and rural areas, to also achieve export success,” says O’Byrne.
Figures from the Department of Foreign Affairs and Trade show Australia exported $215.8 billion worth of goods and services for the 2007 financial year. During this period, Austrade worked with 15,000 Australian companies, assisting over 5,000 businesses to achieve export success with a dollar value of $22.4 billion.
The profile of Australian innovation and export capabilities is demonstrated through industry specific events locally such as Rosemount Australia Fashion Week and the Sanctuary Cove International Boat Show. Other international events showcasing Australian companies included World Ag Expo in the United States, G’Day USA and Utsav Australia (Celebrate Australia) in India.
Austrade has also developed the Business Club Australia (BCA) program to leverage the profile of international sporting events to help generate international trade and investment opportunities for Australian businesses, such as this month’s Olympic Games. “BCA has been endorsed by the Australian Olympic Committee as Australia’s official international business program at the Beijing 2008 Olympic Games,” reports O’Byrne.
Since its inception, BCA has held over 270 networking events in Australia and overseas. “BCA has supported $1.7 billion in trade and investment deals during its business matchmaking at [events such as] the Sydney 2000 Olympics, the Melbourne 2006 Commonwealth Games and last year’s Rugby World Cup in France,” he says.
On July 1, Austrade assumed additional responsibility for attracting inward investment into Australia, integrating the activities of Invest Australia and the Global Opportunities program. “These changes will provide the Australian community with a unified international trade and investment development agency,” says O’Byrne.
Australia’s exporting success stories are also acknowledged to the wider community annually through the Australian Export Awards, which marks its 46th year in 2008. State and territory winners in 12 categories progress to compete as national finalists in their category, with one awarded the title of Australian Exporter of the Year. The winners range in size from small businesses to some of Australia’s largest companies and most iconic brands.
“The Australian Export Awards reveal the stars of export, as well as the talent and ingenuity with which they add value to the Australian economy. Finalists in the 2007 Australian Export Awards accounted last financial year for more than $11.5 billion in export earnings, directly employing more than 38,500 people,” notes O’Byrne.
Over the coming months, we’ll showcase some of the best of Australian exports, and the initiatives and innovations that support them, state by state.
—Sarkis Khoury is a senior media adviser with Austrade
