South Australian businesses looking to build success and grow their market reach overseas, can now identify key growth opportunities following the release today of the 2020 business mission calendar.
The calendar is a comprehensive list of activity that will showcase South Australia to the world, with approximately 34 outbound mission destinations including SIAL in China, Euronaval in France, South by South West (SXSW) in the United States and the World Expo in Dubai, along with nine inbound delegations from countries such as China, Hong Kong and South East Asia.
Minister for Trade, Tourism and Investment, David Ridgway said business missions support industry to grow trade and investment opportunities in overseas markets, as well as bringing overseas buyers and distributors to South Australia.
"The business missions support international engagement and opportunities to enhance the state's Gross State Product by up to three per cent per annum - a shared objective across the South Australian Government under the Growth State Plan," Mr Ridgway said.
The 2020 calendar will target businesses from priority sectors and activities that will add economic value to South Australia.
"The calendar incorporates a tailored program of events, here and overseas, that provide opportunities for businesses to participate in activities such as business matching, networking opportunities, site visits, exhibitions and briefings," Mr Ridgway said.
"All of the activity, inbound and outbound programs, are vitally important in providing the opportunity to welcome potential business partners and investors from around the world to see first-hand, a company's products and capabilities."
The 2020 Business Missions program is complemented by the Marshall Government's $12.8 million commitment to establish five new overseas trade and investment offices with Shanghai and Tokyo outposts already up and running.
The Houston Trade and Investment Office is due to open in the first half of next year, followed by Dubai and then Kuala Lumpur offices.
An example of the opportunities for business was the recent China International Import Expo (CIIE).
In Novenmber about 40 South Australian exhibitors from the wine, meat, packaged food and tourism sectors participated in CIIE with a reported 3800 exhibitors and 900,000 visitors, including 500,000 registered buyers.
"This business mission is a fantastic example of the exposure an event such as CIIE can bring South Australia," Mr Ridgway said.
"The preliminary outcomes from CIIE, as reported by delegates, totalled an estimated $6.4 million, with 7 export orders executed and at least 23 memorandums of understanding signed, worth $21.5 million.
"Of this, Charles Cimicky Wines - a boutique winery located in the Barossa Valley, reported they executed an initial contract for approximately $6 million."
International award-winning vineyard, Schubert Estate, also based in the Barossa Valley in Marananga, has seen great success come from their participation in CIIE across both 2018 and 2019.
Director of Winemaking Schubert Estate wine and Hare's Chase Wines, Jason Barrette, said as an Australian wine brand, they feel that it is important to be involved in CIIE, not only to showcase and exhibit their brands to the greater Chinese market, but also to represent the wider Australian wine industry.
"CIIE gives us the opportunity to present our wines to a large audience of key stakeholders within government and private businesses that have an interest in purchasing wine," Mr Barrette said.
"I'm thrilled to announce that Schubert Estate successfully secured three supply agreements at CIIE 2019, with an estimated value of $1.5 million."
To view the activities taking place in 2020 visit: dtti.sa.gov.au/business-missions
