The 2015 Budget is part of the Commonwealth Government’s plan to build a strong, safe and prosperous future for all Australians.
Measures contained in the 2015-16 Budget will provide $18 million for an expanded series of Australia Week trade missions and promotional events in China, India, the United States and ASEAN.
Trade and Investment Minister Andrew Robb said the funding for Austrade would extend a programme that is already delivering significant, tangible benefits for Australia.
“This additional funding will help us further drive our ‘open for business’ message, promoting Australia as a world class tourism destination and a valued trade, investment and education partner,” Mr Robb said.
“Australia Week events held this year in India and last year in China proved highly effective in building direct links with consumers and potential business partners in two of the world’s biggest economies.”
Australia Week in China consisted of a business mission with over 750 delegates and simultaneous promotional events in major Chinese cities, while Australia Business Week in India involved 450 delegates; these missions were Australia’s largest ever to both China and the sub-continent.
Commercial agreements worth around $884 million were signed during the Australia Week in China programme, which also generated significant business leads and inbound investment worth billions of dollars, some of it still progressing.
The Budget funding of $18 million will allow for further biannual Australia Week events to be held in China and India until 2019.
It will also allow similar events to be held in the United States and a coordinated Australia Week programme across ASEAN. In the US, the Government will replace the trade, investment and tourism aspects of G’day USA, with an enhanced programme.
“The Australia Week initiative seeks to broaden engagement and communication with a number of markets that are crucial to Australia’s future economic prosperity,” Mr Robb said.
“They are an important part of the Government’s efforts to support jobs and growth by backing our business strengths.”
- Trade Minister's Office: (02) 6277 7420
- DFAT Media Liaison: (02) 6261 1555