Casting a wider net
SMALL and medium-size businesses are increasingly looking to diversify their Asian exports to countries outside China, thanks to a rising middle class across Southeast Asia and high demand for Australian products.
New research from global logistics giant FedEx has found that although the biggest three export markets are China, New Zealand and the US, over the next five years countries such as Laos and India will be increasingly targeted as export destinations.
However, the research also found that half cited costs as a barrier to participating in further border trade, while a lack of knowledge was a concern for 58 per cent.
Queensland’s Witches Falls Winery has been exporting since 2012, with its wholesale and export officer Tanya Robertson saying about 15 per cent of the winery’s product is now sent to foreign countries.
“We’re really hoping to increase that to between 20 and 25 per cent in the next few years,” Ms Robertson (pictured) said. “There’s definitely an international demand for Australian product – we have a reputation of being high-quality and wellpriced.”
The survey found the export outlook for small and medium business was optimistic, with more than 90 per cent expecting exports to stay stable or rise over the year.
For the past six years, Witches Falls Winery has made inroads into the Asian market, with partnerships in China, Taiwan and South Korea, as well as some success in the US and even Norway.
But Ms Robertson said extending further into the Southeast Asian market – which includes Laos, Vietnam and Thailand – would be a priority.
“The European market is an expensive market to get into, which is why my focus is closer to home,” she said.