Page 2530 - Week 07 - Thursday, 3 August 2017
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Mr Barr: The answer to the member’s question is as follows:
(1) In responding to the question the ACT Trade Missions cost:
(a) 2015-16:
(i) Total expenditure on trade missions for the year - $330,394.
(ii) Destination and cost of each trade mission:
• USA-Japan (San Francisco, Austin, Washington DC, Nara, Tokyo) – October 2015 - $212,997;
• Singapore Trade Mission combined with Canberra Business Chamber – November 2015 - $36,866; and
• Singapore-China-Hong Kong (includes participation at Australia Week in China)– April 2016 - $80,531.
(iii) ACT Government Officials supporting the mission:
• USA-Japan: 7 ACT Government officials travelled in support of the mission including the Chief Minister and 2 staff from his office.
• Singapore Trade Mission: 2 ACT Government officials travelled in support of the mission. There was no representation from the Chief Minister’s office.
• Singapore-China-Hong Kong: 7 ACT Government officials travelled in support of the mission including the Chief Minister and 2 staff from his office.
(iv) Other participants on each trade mission:
• USA-Japan: 19 ACT businesses participated in the mission.
• Singapore Trade Mission: 10 ACT businesses including Canberra Business Chamber representatives participated in the mission.
• Singapore-China-Hong Kong: 30 ACT businesses participated in the mission.
(v) Economic Benefit:
• Trade missions have direct and indirect economic benefits that accrue in both the short and long term. Accordingly, it is not possible to measure the economic benefit from an individual mission. A continued effort in markets is also required to generate desired results.
• The trade mission format is a way of ‘soft landing’ companies with export capabilities in new markets and also mixing these companies with more experienced exporters with more developed market strategies and experience. This mix of capabilities will see some companies achieve early success, while others will take longer or not progress their plans at all, based on the accelerated learning of a mission.
• Trade missions are also about branding the ACT – taking local business capability and innovation message to new markets, exposing local businesses to international networking opportunities, potential partners and investors, and setting up opportunities for local businesses to pursue further trade and export development links. Studies show that active exporters occupy an important place in the business community; as companies they tend to grow more quickly, pay higher wages, have higher rates of productivity, be more innovative and have a positive impact on their local supply chains.
• Some examples of outcomes include:
o Securing direct international flights to and from Singapore and Wellington;
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