A NEW trade diversification network has been announced by the federal government, with 40 national peak bodies forming the Accessing New Markets Initiative (ANMI).
The peak bodies, selected via a competitive process, come from a broad range of industries including agriculture, health, defence, advanced manufacturing and the green economy.
Trade minister Don Farrell said the network would enable more trade with emerging markets such as the Middle East and Southeast Asia.
“The Trade Diversification Network is a great example of government and industry working together to achieve a common goal: seeing Australian businesses diversify, grow, and build resilience,” he said.
The network is to work with the government to identify and develop tailored activities such as trade missions, training and showcases aimed at facilitating export diversification.
According to the government, the combination of Austrade’s global network and the insights and capabilities of peak bodies will ensure Australian businesses are best positioned to take advantage of global growth opportunities.
Senator Farrell said Australia’s output was 32% supported by trade and businesses that exported were on average more productive and employed more people and paid higher wages.
“ANMI will help to build the capability needed to support future export growth and trade resilience across a wide range of sectors,” he said.
“This initiative will encourage more businesses to export to more markets, creating new jobs at home and strengthening Australia’s economic position.”
National Farmers’ Federation interim chief executive Su McCluskey welcomed the government’s announcement.
“Trade diversification strengthens farm businesses, supports the economy and builds resilience in the face of rising protectionism,” Ms McCluskey said.
“Open markets, fair rules and strong trade partnerships are essential to Australia’s economic strength, food security and regional prosperity.”
The NFF recently participated in a trade mission to Indonesia and Brunei.
A full list of ANMI members can be found on the Austrade website.