Liberal Party reveals plan to open four new international trade offices to boost South Australia’s exports
UPDATED: SOUTH Australia would open four new international trade offices, including in the US and Asia, under a Liberal plan to create new jobs and more investment by boosting exports.
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SOUTH Australia would open four new international trade offices, including in the US and Asia, under a Liberal plan to create new jobs and more investment by boosting exports.
Opposition Leader Steven Marshall will on Friday unveil the $12.8 million plan at a business lunch, saying the state “desperately” needs a change of strategy to lift its return from exports.
Premier Jay Weatherill has previously set a target for the state to achieve $18 billion in exports by 2017, but latest ABS figures show SA’s returns languishing at $13.2 billion and shrinking.
The centrepiece of Labor’s trade strategy has been large international missions led by Investment and Trade Minister Martin Hamilton-Smith that take local business leaders on overseas trips.
Mr Marshall told The Advertiser he would lift the number of SA trade offices from two to six in a “major plank” of a comprehensive trade plan to be rolled out in coming months.
He plans to add Japan, Malaysia, Dubai and the US to existing permanent sites in London and Jinan, China. Each would be complemented by SA trade representatives embedded with Austrade, he said.
“SA desperately needs a change of export strategy if we are to grasp the jobs and investment opportunities other states are enjoying,” Mr Marshall said.
“SA will not return to its former level of prosperity without a substantial increase in what it sells to the rest of the world.
“Trade offices provide on-the-ground support for exporters, enabling them to develop the deeper, longer term engagements necessary to prosper in foreign markets.
“A stronger SA trade footprint in countries of the highest potential offer the prospect of increased jobs and investment.”
Mr Marshall said the state’s share of the national export pie had tanked under Labor’s watch, and the fall from 7.4 per cent to 4 per cent was due in part to the closure of trade offices.
He estimated the gap was now costing the state about $9 billion a year in lost activity.
“The Labor Government’s foolish decision to close trade offices has cost SA dearly,” he said.
“The State Liberal’s pledge of increased trade assistance is just one part of a comprehensive program to spark an export-led transformation of our stagnant economy.”
Trade Minister Martin Hamilton-Smith called the idea ‘half-baked’.
“Marshall’s costly plan for mini embassies overseas will not help to grow exports, but only divert funds we give to assist small businesses to export,” Mr Hamilton-Smith said.
“The Hartley review in 2012 independently investigated this idea and canned it. Hasn’t Mr Marshall read it?”
The Opposition has already pledged support for moving freight rail out of the Adelaide Hills and building a dedicated airport for international exports.
The multibillion-dollar plan, which also includes a freeway, has been criticised by Labor as unfunded and economically unproven.
On Thursday, Mr Hamilton-Smith announced an expansion for the Jinan trade office, saying it was “an important development in our increasingly important” relationship with the region.