SA Government’s $5.4 million fund to help local wineries break into new global markets
South Australian wine makers will tap in to new global markets, with the help of a new multimillion-dollar lifeline, amid ongoing trade tensions with China.
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South Australian wine makers are set to diversify into new global markets, after the state government announced a new multimillion-dollar expansion program.
Premier Steven Marshall said the new program would “aggressively drive” SA wine exports in the US, UK, Canada and other global markets.
The $5.4m Wine Export Recovery and Expansion Program will also prioritise boosting SA wine in the developing markets of Japan, South Korea, Hong Kong, Singapore, Malaysia and New Zealand.
Emerging markets in the United Arab Emirates, Thailand, Vietnam, India, Scandinavia and western Europe have also been identified as priorities.
“We’re providing strong support to South Australian wine exporters who have been affected by serious challenges over the last year, including market access issues, international border closures due to the global COVID-19 pandemic, and bushfires,” Mr Marshall said.
Ongoing trade tensions with China have crippled the Australian wine industry, with the sector calling on the Federal Government for a rescue package two months ago.
The industry asked for $53.4m across Australia to fast-track new trade deals.
“Through this new Wine Export Recovery and Expansion Program, we’re supporting wine businesses to expand business-to-business opportunities for new-to-market companies, brand promotion, wine education and international trade visits, when travel is permitted,” Mr Marshall said.
Trade and Investment Minister Stephen Patterson said the program would focus on e-commerce and retail campaigns.
“This program will be delivered in collaboration with our overseas trade and investment offices, and third-party providers who we will partner with to provide on-the-ground market intelligence, contacts and insight to our wine exporters looking to diversify into new markets,” he said.
The first initiative of the program is the “US Market Entry Program”, which provides services designed to educate wine makers about the “intricacies” of the US market.
Registration opened last month and costs $12,5000 – but a 50 per cent government subsidy is up for grabs for 15 participating wineries.
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