Workshop to highlight export opportunities for business

BUSINESSES can hear how to access the benefits of Australia’s Free Trade Agreements with China, Japan and Korea during a free information seminar in Toowoomba.

FILE PHOTO. Picture: Nev Madsen

BUSINESSES can hear how to access the benefits of Australia's Free Trade Agreements with China, Japan and Korea during a free information seminar in Toowoomba today.

Assistant Minister for Trade, Tourism and Investment, Mark Coulton, will host the event, beginning at 10am at the Burke & Wills Hotel.

Attendees will get practical exporting advice from Austrade, the Department of Foreign Affairs and Trade, AusIndustry, Efic and Tradestart, as well as learning more about the opportunities arising from the recently signed Peru-Australia FTA and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

Since the China-Australia Free Trade Agreement, the Japan-Australia Economic Partnership Agreement and the Korea-Australia Free Trade Agreement entered into force, significant and ongoing tariff reductions have provided advantages for many Australian products exported to these markets.

Local business will also provide its perspective on the opportunities these export markets offer with John Howard, Chief Financial Officer from Russell Mineral Equipment to share his experience of RME's exporting journey and its expectations for the future.

For businesses like RME, the tariffs on their mining products such as Thunderbolt Hammers and Powerpacks going to China were previously 8 per cent.

Under ChAFTA, the duty on these products has been reduced to 1.6 per cent, and it will be eliminated altogether on 1 January 2019.

These FTAs have also opened up new opportunities for Australian exporters of services and investors to expand their businesses into key overseas markets.

Toowoomba is known for its strong mining, manufacturing and agriculture presence, and businesses in the area are well placed to take advantage of Australia's FTAs, with several already exporting.

"Each free trade agreement sees tariffs and barriers to overseas markets reduced over time, making them more accessible for small and medium businesses who might not have previously looked at exporting as a viable option," Sally Phillips, head of the FTAs program at Austrade said.

"If you can go to a customer and say 'what if I can land my product to you at five, 10 or even 15 per cent cheaper,' isn't that a great way to start a conversation. FTAs can give you that opportunity.

"I encourage anyone in business locally in Toowoomba to attend and learn more about how FTAs can benefit your business."

The seminar will be followed by a business roundtable focused on the Australian Trusted Trader Program, providing attendees with further insights on the future of trade facilitation.

Attendees can register for the Toowoomba seminar here or find out more information by calling Austrade on 13 28 78 or emailing [e-mail]. 

Originally published as Workshop to highlight export opportunities for business