Australia launches $50 million initiative to diversify export markets

Photo caption — Australian Prime Minister Anthony Albanese (left) and Chinese President Xi Jinping at a meeting in Beijing on July 15, 2025. Photo: THX/TTXVN

In a press release on September 15, Australian Trade and Tourism Minister Don Farrell said the Australian government has launched the AUD 50 million New Market Access Initiative (ANMI), with the aim of supporting domestic businesses to find new partners, customers and increase export capacity. This initiative is a move to realize the election commitments of the Labor government led by Prime Minister Anthony Albanese.

The two-year ANMI is designed to help Australian businesses stay ahead of changes in global trade. Austrade will work with industry associations to deliver a fast, flexible and tailored support package, including trade advisors in target markets, overseas promotional events and new strategic programs.

The initiative comes as Australia and China's trade relationship has improved significantly since a period of tension. Since 2022, Beijing has gradually removed barriers to Australian beef, lobster, wine and barley imports, with an estimated value of around $20 billion. Minister Farrell said ANMI would build on what has been achieved, allowing farmers, fishermen, miners and winemakers to return to the Chinese market with greater volumes of exports.

According to Chinese customs data, total bilateral trade in the first seven months of this year reached $113.9 billion, of which exports from Australia accounted for $73.1 billion. China is currently Australia's largest export market, especially for products such as iron ore, beef, barley, lobster and wine. Professor Carl Thayer of the University of New South Wales said Australia needs the Chinese market to maintain growth, especially in the field of iron ore exports.

However, ANMI is not only targeting China but also aiming to diversify markets. The Australian Department of Trade stressed that the initiative will strengthen the resilience of exports in the context of global economic uncertainty. Austrade is expected to support businesses to quickly penetrate and expand in emerging markets in addition to maintaining traditional markets.

During the Labor Party's tenure, Australia has achieved positive results in the trade sector, such as through a free trade agreement with the UAE, bringing in an additional 600 million AUD in export value each year, setting a record 53 billion AUD in two-way trade turnover with India after the first trade agreement between the two countries, and increasing 2 billion AUD in two-way trade turnover with Southeast Asian countries in the past two years.

Observers highly appreciate ANMI, saying that this initiative not only takes advantage of opportunities from China's removal of trade barriers but also demonstrates Canberra's efforts to expand and diversify its market. Professor Charles Chang of Fudan University (Shanghai) commented that strengthening trade cooperation between China and a US ally like Australia is beneficial for both sides in the context of global trade being affected by Washington's tariff policy.

Source: https://baolamdong.vn/australia-trien-khai-sang-kien-50-trieu-aud-nham-da-dang-hoa-thi-truong-xuat-khau-391657.html