The Liberal-National Government is backing Australian small and medium exporters through a $60 million boost to the export market development grants (EMDG) scheme to help them export more of their products and services to new markets around the world.
Minister for Trade, Tourism and Investment Simon Birmingham said the funding boost for the Export Market Development Grant (EMDG) scheme demonstrated the Government’s strong support for Australian businesses with export ambitions.
“We recognise the enormous contribution our exporters make to the economy, to creating more jobs and that’s why we’re backing them through this scheme,” Minister Birmingham said.
“Under our government the number of Australian businesses exporting goods and services has skyrocketed by 16 per cent, fuelled by trade deals that have improved access to 1.8 billion new customers and delivered a record $22.2 billion trade surplus in 2018.
“We have delivered Australian businesses with more potential customers through our trade deals and helped more businesses to reach those customers through our growing support for programs such as the EMDG.
“Trade policy under the Liberals and Nationals has been a key driver of our economy, with our record levels of exports helping Australian businesses to grow and contribute to the 1.3 million new jobs created under our government.
“Through the EMDG scheme we’re supporting businesses to increase their marketing and promotional activities in international markets so they can connect with new customers and grow their exports.
“This funding boost will help Australian companies get more exposure in international markets allowing them to develop brand recognition and form relationships with potential customers, that we know is so critical to export success.
“It will make a real difference to Australian businesses that are thinking globally about their business, whether they are exporting for the first time or considering developing new overseas markets.
“This is the second time that our government has boosted funding to the EMDG program, standing in stark contrast to Labor who in 2012-13 cut $100 million from the scheme.
“Due to our stronger economy and strong budget position, by 2022 we will have delivered $180 million in additional funding for the EMDG program since 2013 and have honoured our commitment to restore the $100 million in funding the Labor Party ripped out of it.”
Last year alone over 3,500 Small and Medium Enterprises accessed the EMDG scheme, employing almost 66,500 Australians and generating exports of $3.8 billion
The Liberal-National Government will invest an additional $60 million in the EMDG scheme over the next three years to help more Australian businesses export to the world.
For more information go to: https://www.austrade.gov.au/Australian/Export/Export-Grants/About/what-is-emdg
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