International trade and investment are key drivers of the Australian economy. It creates jobs and prosperity, and opens up opportunities for Australian businesses to expand and diversify globally. One in four Australian jobs relate to trade.
In its 2024–25 Budget, the Australian Government is making significant investments to expand and diversify trade while simplifying Australia's trading system. The Government also continues its support for trade modernisation and First Nations exporters.
Supporting trade diversification and expansion
Boosting trade and investment with Southeast Asia
The Budget confirms previously announced funding for Invested: Australia's Southeast Asia Economic Strategy to 2040. Find out more about the Strategy and Austrade's support for businesses that want to expand into the region.
The funding includes $4.8 million over four years to establish Landing Pads in Jakarta and Ho Chi Minh City. The Landing Pads will provide on-the-ground support for Australian businesses to boost technology service exports to Southeast Asian markets. Find out more about the Landing Pads program.
Expanding the Australia-India Business Exchange program
The Budget includes $14.4 million over four years to expand the Australia-India Business Exchange (AIBX) program. The funding will support exporters to further diversify into India, including access to Austrade advisors with expertise in major cities across India.
Helping more businesses to go global
The Government will invest $10.9 million over two years to expand the Go Global Toolkit. The Toolkit will be expanded to add personalisation and more tailored and targeted content delivery. This will make it faster and easier for Australian businesses to access information and advice about export markets.
The Toolkit recently received a new contemporary look. Since its launch, the Toolkit has had more than 320,000 users. Businesses that use the Toolkit save over 1,000 hours across the export journey, compared to businesses that don't. Around 86% of businesses using the Toolkit said it made them more confident when making export decisions.
Supporting agricultural exporters to reconnect with China
The 2024–25 Budget includes $2 million in additional surge support for Austrade to support affected Australian agricultural exporters to re-establish commercial connections in China and continue to diversify into other markets.
Supporting First Nations exporters
The Government continues to focus on delivering against commitments in the 2023 National Agreement on Closing the Gap. Austrade is supporting First Nations businesses to access export trade opportunities, supporting culturally sensitive investment into Australia, and leading co-design of a First Nations Visitor Economy partnership.
Streamlining trade reforms
A new Simplified Trade System Unit (STS Unit) will be established in Austrade from 1 July 2024. The Unit will continue to drive streamlined trade reforms, advise government on future regulatory and digital reforms, and ensure strong consultation and engagement with business.
For more information: austrade.gov.au