In order to remain competitive and viable in an international marketplace businesses can explore the option of entering foreign markets, a number of our Wagga Wagga businesses have already explored these options and are reaping the benefits.
Wagga Wagga is ideally located to position itself as a major exporter of goods and services now and into the future. The strategic location of Wagga between Sydney and Melbourne ports highlights its accessibility to export markets, while its stand-out infrastructure sets it apart from its regional counterparts. Businesses have the ability to combine the competitive advantages gained by operating in Wagga Wagga with the excellent connectivity the City shares with the rest of Australia and the world.
Organisations based in Wagga Wagga looking to exploit these opportunities will be advantaged by The Riverina Intermodal Freight and Logistics Hub (RIFL). The construction of additional rail infrastructure, including a new 5km long master siding, will allow freight trains to safely pull off the main rail line to load and unload material for wider distribution.
Learn more about the RIFL Hub here.
Free Trade Agreements
Across the globe, there is an expanding network of free trade agreements (FTA's) which are helping Australian exporters access new markets and expand trade in existing markets by amongst other things, allowing Australian producers and manufacturers export goods to the signatory countries under reduced or no tariffs.
Australia has seven FTA's currently in force with the USA, New Zealand, Singapore, Thailand, Chile and (with New Zealand) the Association of South East Asian Nations (ASEAN) and Malaysia. The countries covered by these FTA's account for 28 per cent of Australia's total trade.
Nine more FTA's are under negotiation - five bilateral FTA negotiations: China, India, Japan, Indonesia and the Republic of Korea; and four plurilateral FTA negotiations: The Trans-Pacific Partnership Agreement (TPP), the Gulf Cooperation Council (GCC), the Pacific Trade and Economic Agreement (PACER Plus), and the Regional Comprehensive Economic Partnership Agreement (RCEP). The countries covered by these negotiations account for a further 45 per cent of Australia's trade.
Government agencies including Austrade (Australian Government) under its TradeStart partnership and NSW Trade and Investment (NSW Government) together with organisations such as the NSW Business Chamber provide existing, new and potential exporters a variety of resources including information, workshops, one-to-one mentoring and financial assistance (subject to meeting eligibility criteria) to assist them develop the skills and capability to export as well as research, identify and access international market opportunities.
Export advisors work one on one with companies to look at their specific needs when considering markets, location and product. Export advisors use networks they have developed with overseas counterparts to ‘business match' Australian exporters with potential buyers and/or investors.
The opportunity to participate in trade missions and exhibitions also exists and is an excellent way for exporters to develop further links with potential customers, partners.
Existing exporters and those businesses considering exporting can visit the NSW Trade and Investment site or speak to the local Export Adviser for further information
NSW Trade and Investment, Wagga Wagga Office contact T: + 61 2 6921 6422