New government funds have been rolled out to support exporters during the coronavirus outbreak.
Federal Government has:
- increased the export market development grants (EDMG) scheme again, by almost $50 million; and,
- put forward $110 million to help agri-exporters freight goods.
Export grants scheme bolstered
The EDMG scheme helps exporters and tourism businesses access reimbursement for international marketing expenses.
The new $49.8m increase supplements the additional $60m already committed, bringing funding to a 20-year high of $207.7m for the 2019-20 financial year.
Businesses can now claim expenses in the 2020-21 financial year for events that have been cancelled due to COVID-19.
Also, the usual Export Performance Test will be waived for the 2019-20 financial year for businesses applying for a grant from 1 July 2020.
Austrade advises that for applications lodged in 2019–20, the payout factor for the second tranche will be 100 per cent.
The balance distribution date for the 2019–20 financial year has been brought forward to 31 March 2020, effectively fast-tracking reimbursement.
For more information contact Austrade on 13 28 78 or call CCIWA and ask for TradeStart.
Freight support for agri-exporters
The Federal Government will spend $110m on cargo flights for premium agricultural and seafood products.
The flights will target China, Japan, Hong Kong, Singapore and the United Arab Emirates.
