A $6 million grant scheme to help businesses enter the Asian market will be up for grabs from 1 July.
In what's been dubbed the Asian Century Business Engagement Plan, grants of between $20,000 and $300,000 will be dished out to SME business associations and peak bodies to fund trade missions, market research and other innovative export-related activities that benefit their members.
According to Austrade, organisations like the Australian Food and Grocery Council, Meat & Livestock Australia and Wine Australia would be strong candidates for the grants. The grants will be awarded on a competitive application process.
The Business Engagement plan is part of the Government's broader strategy to help Australian businesses benefit from Asia's extraordinary economic growth, according to the Minister for Trade and Competitiveness, Dr Craig Emerson.
“By funding programs that build understanding of, and access to, regional markets, this plan will help businesses grasp exciting opportunities for partnerships in Asia,” he said.
Food and drink producers are among those being targeted by the engagement plan, which was first touted last year in the Government white paper: Australia in the Asian Century.
Substantial opportunities for the food sector were emerging from Asia’s rise, according to the paper, and Australian food producers and processors could become recognised globally as innovative and reliable producers of more and higher-quality food and agricultural products, services and technology to Asia.
“Australia’s agriculture and food sector is extraordinarily well-placed to build on its strengths: proximity to markets in Asia, complementarity in production systems, a robust biosecurity system, a record of innovation and reputation,” the paper said.
Developing a deeper understanding of the work practices and cultures of countries in Asia would make it easier to build relationships at the industry and customer levels, according to the paper.
To this end, Austrade is also conducting free briefings on trade opportunities in the Asian Century in state capitals in the second half of this month.
Senior Trade Commissioners visiting from key Asian markets will provide their insights into how to harness opportunities arising from Asia's expanding middle class and growing share of the global economy.
The briefings will cover a range of sectors including food and agribusiness.
