The Liberal-National Government has ramped-up its support to Australian companies doing business overseas, launching its new Economic and Commercial Diplomacy Agenda.

Minister for Foreign Affairs Marise Payne said feedback from industry during the development of the Foreign Policy White Paper suggested areas where the government could enhance the way it engages with business seeking global opportunities.

“Through this Agenda, we have recalibrated our approach to prioritise ongoing, effective engagement with business as well as promoting Australia as an attractive place to invest, study and visit,” Minister Payne said.

“Australia is a strong advocate for open and liberal trade and investment, actively participating in the G20, APEC, WTO and other global economic forums. As the 13th largest economy in the world (IMF 2017), this Agenda recognises the importance of economic and commercial diplomacy to our broader international engagement and influence.

Minister for Trade, Tourism and Investment Simon Birmingham said the new Agenda would help link Australian businesses with commercial opportunities around the world and help them navigate the challenges of operating in overseas markets.

“This Agenda focuses on how government, through our various agencies and networks of overseas posts can better support businesses find new global opportunities and establish themselves overseas,” Minister Birmingham said.

“Varying legal systems, government regulation and cultural differences all present significant challenges to doing business in overseas markets and this Agenda is about ensuring Australian businesses have access to the right support services when they need it.

“We know Australian businesses that export, hire more staff, pay higher wages and have higher labour productivity than non-exporting firms.

“That’s why as a government we need to work with the 50 000 Australian businesses who already export and the thousands of other Australian businesses seeking export opportunities to help them access and establish themselves in markets around the world.”

For more information on the new Economic and Commercial Diplomacy Agenda visit: https://dfat.gov.au/trade/engage/economic-diplomacy/Pages/economic-and-commercial-diplomacy.aspx

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