Australia unveils plan to boost exports to China as trade barriers fade
The Accessing New Markets Initiative will ‘build on’ the removal of Chinese restrictions in several industries, Canberra says
The Australian government has unveiled a plan to improve domestic exporters’ access to the Chinese market after Beijing’s removal of trade barriers that previously affected A$20 billion (US$13.3 billion) worth of the country’s goods.
The two-year Accessing New Markets Initiative will provide A$50 million of funding in an attempt to “build on” China’s recent scrapping of several trade restrictions affecting Australian products, the Department of Foreign Affairs and Trade said in a statement on Monday.
“[The initiative] builds on what the Albanese Labor Government has already delivered for Australian exporters, including removing over A$20 billion in trade impediments on our exports to China – allowing farmers, fishers, miners and winemakers back into this market at higher volumes than ever before,” the statement said, citing Minister for Trade and Tourism Don Farrell.
The department added that, under the initiative, which covers Australian trade worldwide, the government will offer exporters “fast, flexible and targeted” support, including access to trade advisers and offshore events.
The Australian Trade and Investment Commission, a government promotion agency, will also work with industry bodies to back their members in quickly diversifying and growing into new export markets, including China.