Page 1332 - Week 04 - Thursday, 7 April 2016
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• The trade mission format is a way of ‘soft landing’ companies with export capabilities in new markets and also mixing these companies with more experienced exporters with more developed market strategies and experience. This mix of capabilities will see some companies achieve early success, while others will take much longer or not progress their plans at all, based on the accelerated learning of a mission.
• Trade missions are also about branding the ACT – taking local business capability and innovation message to new markets, exposing local businesses to international networking opportunities, potential partners and investors, and setting up opportunities for local businesses to pursue further trade and export development links. Studies show that active exporters occupy an important place in the business community; as companies they tend to grow more quickly, pay higher wages, have higher rates of productivity, be more innovative and have a positive impact on their local supply chains.
• The economic benefit generated for the ACT from the collective effort of successive trade missions far outweighs their cost.
(b) 2013-2014
(i) Total expenditure on trade missions for the year - $193,851
(ii) Destinations and cost of each trade mission:
• US-Singapore Trade Mission (November 2013) - $63,372
• Visit Canberra Singapore Trade Mission (November 2013) - $15,357
• Australia Week in China, Shanghai (April 2014) - $45,673
• Singapore and Hong Kong Mission (June 2014) - $69,449
(iii) Economic Benefit: As per (1)(a)(iii).
(a) 2014-15
(i) Total expenditure on trade missions for the year - $129,749
(ii) Destinations and cost of each mission:
• China (Shenzhen) and Hong Kong (October 2014) - $10,101
• Deputy Chief Minister’s delegation: Singapore, Tokyo (October 2014) - $18,280
• New Zealand - Christchurch, Wellington, Auckland (February 2015) - $7,566
• Beijing delegation (April 2015) - $13,198
• Singapore, Hong Kong, China (June 2015) - $32,690
• ACT Screen Industry Mission, Hong Kong (March 2015) - $13,877
• Canberra Business Chamber Mission, South Korea (May 2015) - $34,037
(iii) Economic Benefit: As per (1)(a)(iii).
(b) 2015-16
(i) Total expenditure on trade missions for the year - $249,863
(ii) Destinations and cost of each mission:
• USA-Japan (San Francisco, Austin, Washington DC, Nara, Tokyo) (October 2015) - $212,997
• Singapore Trade Mission (November 2015) - $7,333
• Canberra Business Chamber Mission to Singapore (November 2015) - $29,533
• Singapore, China (April 2016) – mission yet to be delivered
(iii) Economic Benefit: As per (1)(a)(iii).
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