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$1.4 Million in Grants Aid Queensland Exporters Flourish

$1.4 Million in Grants Aid Queensland Exporters Flourish

2022-07-07

Article by: Hari Yellina

The Palaszczuk Government’s New Market Program will distribute $1.4 million to 60 Queensland exporters wanting to enter new international markets. The funds will open up crucial overseas export opportunities, according to Treasurer and Minister for Trade and Investment Cameron Dick. According to Mr Dick, “Our New Market Program is about bringing Queensland to the world.” This initiative, run by Trade and Investment Queensland, provides matching grants to export-ready Queensland businesses of up to $25,000. This money can be used to make marketing materials, pay for shipping, help distribute samples and obtain market-specific certifications, or go to international trade events.

These incentives may serve as a vital link between a plant in Cairns and the creation of new jobs in Queensland and a multimillion-dollar contract. Increased trade and overseas investment are key to Queensland’s prosperity,” he said. “Trade and investment are more crucial than ever as the world’s economies try to rebuild and recover from the effects of COVID-19.” One of this year’s successful New Market Program Grant applicants is Banana Feeds Australia of Cairns. According to director John McArthur, the money will assist the company in advancing its export strategy in Europe. According to Mr. McArthur, “We produce a 100 percent natural equine and canine supplement called B-Complete for boosting the gut health, performance, well-being, and general condition of horses and dogs.”

“We’re eager to break into the European market, and we also expect that customers in the UAE, who have been pleased with our all-natural green banana supplements, will soon establish themselves as a significant export market.” Michael Healy, a member representing Cairns, claimed that the region’s product offers were poised to pique global interest. Far North Queensland enterprises are exceptional and forward-thinking, and there is a genuine market for our goods abroad, according to Mr. Healy. Our businesses are ready to expand their reach, and these awards are assisting them in doing so, as we are seeing with Banana Feeds Australia and other local New Market Program beneficiaries like Mainie Australia and MFC Safe.

The New Market Program has distributed about $2.2 million to 87 Queensland businesses since its introduction in 2021. Queensland, according to Mr. Dick, is responsible for creating one in three of Australia’s export dollars, which has helped the country’s exports grow by more than 30% over the past year. “Trade and Investment Queensland has assisted Queensland businesses to achieve an annual average of 356 commercial outcomes, deals that collectively are valued at more than $1 billion per year,” says Trade and Investment Queensland.