The Export Market and Development Grant (EMDG) Strategic Refocus – the stats you need to know
Applicants Top 5 Priority Markets and Regions:
- North America (United States of America; Canada) – 55% 2
- United Kingdom – 43% 3
- Europe (European Union countries) – 42%
- Southeast Asia (includes Brunei, Burma, Malaysia, Philippines, Singapore, Vietnam, Thailand, Laos, Cambodia, Indonesia, Timor-Lesté) – 37% 5.
- North Asia (includes Japan, South Korea) – 24%
Refocusing EMDG
- 66% of respondents (2 in 3) support a refocused EMDG program introduces additional eligibility criteria aimed at augmenting the grant amounts accessible to applicants.
- In the survey, a significant 83% of grant agents concurred with this viewpoint.
- 50% of Tier 3 respondents supported the introduction of a minimum marketing spend threshold.
- 80.5% of survey respondents supported the idea that the minimum spending threshold should be set at $15,000 or more
- 40% of survey respondents supported an enhanced export readiness test.
Priority Countries:
Southeast Asia
Austrade has received positive feedback from existing EMDG exporters regarding promotion in ASEAN. Thus, it comes as no surprise that in the FY 2022-23 annual report, Austrade has considered refocusing its efforts to emphasise trade diversification, including Free Trade Agreements, and the expansion of exports and trade investments in the ASEAN region.
The Federal Government's Southeast Asia strategy to 2040 also plays a role in this decision. Austrade's Trade and Investment annual report for FY 2022-23 highlights key points and facilitated export deals. The current Trade Minister, Senator Don Farrell, is expected to have some influence on the final decision.
Southeast Asia includes Indonesia, Laos, Cambodia, Vietnam, Philippines, Singapore, Myanmar, Thailand, Brunei, and Malaysia, with reported export values of $883 million in fy22-23. The entire Asian market, excluding China, represents approximately $1.5 billion in total value. More than 50% of current EMDG exporters are already targeting these Southeast Asian countries, with applicants typically reporting export sales between $4 billion to $5 billion per financial year.
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