MADISON, WI. July 1, 2019 – The Wisconsin Economic Development Corporation (WEDC) is inviting Wisconsin companies seeking to establish or expand their exporting efforts to participate in a global trade venture to Australia from Nov. 15-23. The registration deadline is Sept. 6.
The trade venture will include visits to Sydney/New South Wales and Melbourne, which are markets of particular opportunity for Wisconsin companies. In each city, participating companies will be scheduled for customized business meetings with potential local partners handpicked for their companies by Wisconsin’s authorized trade representatives in the markets, based on the company’s needs.
“As a large, advanced and trade-dependent economy with a well-developed legal system, Australia remains a vibrant and important market for American goods and services. It’s an ideal market for new-to-export companies, as well as those seeking to further expand their business/distribution networks in-country,” said Katy Sinnott, vice president of international business development for WEDC, the state’s lead economic development organization. “Australia is a market that seeks innovative, advanced technology product and service solutions. Wisconsin companies will find it to be a friendly market with many potential buyers—especially if they offer innovations that solve problems.”
WEDC’s trade ventures offer companies a way to make connections in markets that lead to new exports. The trips represent an excellent value since they are offered at a subsidized rate, and with logistics taken care of, participants can focus on business.
The trade venture begins Nov. 15 with a departure from the U.S. The trip will begin in Sydney, Australia’s largest city and cultural and economic hub. New South Wales, the province surrounding Sydney, is the largest state economy in Australia, accounting for more than a third of the country’s GDP. Clusters of manufacturing in greater Sydney include aviation/aerospace, pharmaceuticals, biotechnology and electronics.
The delegation will then travel to Melbourne and the surrounding province of Victoria, whose economy accounts for nearly a quarter of Australia’s GDP. Victoria is Australia’s largest source of premium food and fiber products, as well as dairy and prepared foods. Other sector strengths include the aerospace and transportation equipment industries.
Each participant in the global trade venture will receive a customized Australia market assessment specific to his or her company, detailing considerations to keep in mind when introducing the company’s product or service into the market. WEDC also has an authorized trade representative in Australia who can make it easier for Wisconsin companies to find local partners and can take some of the guesswork out of launching in a new market.
The venture includes three nights in Sydney and three nights in Melbourne. The cost to attend for a Wisconsin exporter of goods or services is $1,600, which includes the market assessment, hotel accommodations and transportation between the two program cities, but does not include international airfare or most meals. WEDC is able to offer this venture at a low price for Wisconsin exporters thanks in part to a grant from the U.S. Small Business Administration.
The registration deadline is Sept. 6. To learn more or register, please visit https://wedc.org/blog/global-trade-venture-australia-2019/.