This week Senator Don Farrell, Minister for Trade and Tourism, will travel to Chicago to bolster Australia’s trade and investment interests with one of our largest trading partners. He will meet with senior US officials on the sidelines of the Democratic National Convention, where he will be an attendee of the International Leaders Forum in his capacity as Special Minister of State.
While in Chicago, he will meet with US counterparts and senior officials to continue discussions on strengthening trade and investment cooperation including on critical minerals, climate and economic security, IPEF negotiations, and strengthening and reforming the WTO.
He will also meet with businesses in the US Midwest who have important links to the Australian economy, to reaffirm the value of working together to leverage the significant opportunities for greater two-way commercial ties.
His Department of Foreign Affairs and Trade (DFAT) has released the August 2024 edition of the Business Envoy. This edition is a showcase of Australia’s trade agreements and the benefits they deliver for Australian businesses, consumers, and communities. It features an “FTA network map” (image above).
A free copy of the August Business Envoy is available in Flipbook, PDF or Word formats from https://www.dfat.gov.au/publications/business-envoy-august-2024-australias-free-trade-agreements.
One in four Australian jobs relate to trade. We have 18 free trade agreements across 30 economies, which support nearly 80% of Australia’s international trade and deliver benefits for thousands of Australian businesses all over the world.
In June, Senator Farrell signed three landmark agreements under the Indo–Pacific Economic Framework in Singapore. These agreements will unlock trade and investment opportunities to support the global transition to net zero and underline our commitment to the Indo–Pacific region.
Bigger EDMG on offer for export ready businesses.
Last week the Minister announced the grant guidelines for the Round 4 of the Export Market Development Grants (EMDG) program, along with new free export readiness training.
The EMDG program helps Australian businesses grow, market and promote their top-quality goods and services to the world, and has supported exporters for almost 50 years.
Eligible Australian businesses will now be able to receive significantly larger grants ranging from $20,000 to $80,000 to support their export goals.
Round 4 of the EMDG program is set to open in November 2024, and Australian exporters are encouraged to get ready early, by developing their market plans and completing the new free export readiness test.
This free training and readiness test will help new-to-export businesses ensure they are export ready, and meet eligibility requirements before they apply for a grant. These changes will ensure the EMDG program returns to delivering for those businesses who are taking the leap to start, grow or diversify exporting.
The export readiness test was designed by the Export Council of Australia and is available online to any business looking at expanding their export markets via the EMDG portal from today.
For more information and advice visit Austrade’s web page.
Here is a link to a recent related article: Australia’s High Reputation in Global Trade
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