Export grants redirected to emerging and frontier markets
Austrade media release
24 October 2012
The Australian Government is changing the Export Market Development Grants scheme to reflect trade and Budget priorities.
The Government has a priority to bring the Federal Budget back into surplus. It is modifying the EMDG scheme in order to contribute to that objective while still maintaining the Government’s commitment to the scheme. It is also more closely aligning the scheme with the Government’s reform of Austrade which was announced in May, 2011.
Beginning in the grant year 2013-2014, exporters to East Asian, emerging and frontier markets will be entitled to claim a maximum of eight annual grants, up from the current limit of seven. This will help Australian exporters maximise the potential of markets which are growing strongly and where it is well recognised that it often takes more time to establish and achieve success.
Exporters to the established markets of the United States, Canada and the European Union, including the United Kingdom, will be entitled to claim a maximum of five grants, instead of the current seven. The Australian brand is well accepted in these markets and it often takes relatively less time to establish a presence there.
A minimum of five grants will still be available for all current markets from grant year 2013-2014.
The changes will help achieve savings of $25 million per year commencing this financial year. They will also align EMDG more closely with the greater emphasis being placed on East Asian and emerging and frontier markets by Austrade, which administers the scheme.
The grants are designed to help small and medium-sized enterprises establish sustainable export markets, providing annual grants which partially reimburse promotional expenses. Since its inception in 1975, the scheme has helped thousands of exporters each year.
Austrade, through its EMDG team, will be consulting with industry on implementation of the changes.
ENDS
Media contact
Jim Dickins
Austrade Senior Media Adviser
Tel: 02 9392 2191
For further news and information from the Australian Trade Commission (Austrade) visit www.austrade.gov.au/mediacentre.
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