New Agenda For Doing Business Overseas

The Government has ramped up its support to Australian companies doing business overseas, launching its new Economic and Commercial Diplomacy Agenda.

On 30th November 2018, the Department of Foreign Affairs and Trade (DFAT) issued a media release to launch its new Economic and Commercial Diplomacy Agenda. The Minister said that feedback from industry during the development of the Foreign Policy White Paper suggested areas where the government could enhance the way it engages with business seeking global opportunities.

The Foreign Policy White Paper places economic and commercial diplomacy at the forefront of Australia’s international engagement. The new Economic and Commercial Diplomacy Agenda uses the full suite of the Government’s diplomatic resources to advocate for an open global economy, support businesses seeking commercial opportunities and strengthen international competitiveness.

Australia is a strong advocate for open and liberal trade and investment, actively participating in the G20, APEC, WTO and other global economic forums. As the 13th largest economy in the world (IMF 2017), this Agenda recognises the importance of economic and commercial diplomacy to our broader international engagement and influence.

Over 50,000 Australian businesses export goods or services. The government needs to work with them, and the thousands of other Australian businesses seeking export opportunities, to help them access and establish themselves in markets around the world. DFAT has over 100 overseas posts across the world and offices in Australian state and territory capital (STOs).

The Minister for Trade, Tourism and Investment added comment to the media release, saying the new Agenda would help link Australian businesses with commercial opportunities around the world and help them navigate the challenges of operating in overseas markets. Varying legal systems, government regulation and cultural differences all present significant challenges to doing business in overseas markets and this Agenda is about ensuring Australian businesses have access to the right support services when they need it.

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