Territory Stories

Driving international engagement and economic opportunities for the Territory

Details:

Title

Driving international engagement and economic opportunities for the Territory

Member

Manison, Nicole Susan

Political affiliation

Australian Labor Party

Collection

Media Releases for 14th Assembly 2020 -; Media Releases; ParliamentNT

Date

2022-03-28

Notes

Made available via the Publications (Legal Deposit) Act 2004 (NT)

Language

English

Subject

Economic development; International commerce

Publisher name

Northern Territory Government

File type

application/pdf

Use

Issued as a Media Release

Copyright owner

Northern Territory Government

Parent handle

https://hdl.handle.net/10070/860162

Citation address

https://hdl.handle.net/10070/860164

Related items

https://hdl.handle.net/10070/860163

Page content

Aboriginal-led Territory business will be key to the effective delivery of our international engagement plans. The commitment to these organisations is to enable those with international market interest and the viability to expand and deliver on export demand. These businesses will be taken through a trade readiness program to develop sustainable trade delivery platforms and processes, building business confidence, and establishing an ongoing trade role for the region. Strengthen participation of regional areas in international markets Program launched for 20 new industry-led partnerships that foster trade in new and diversified products and services (5 x Aboriginal-led, 5 x regional, 5 x service, 5 x new and innovative products). The opportunity for regional areas is multi-faceted. By participating in the programs and exploring channels to international markets, regional areas can benefit from: New sources of revenue Opportunities to expand and diversify Expanded skills (from diversified local production of goods and services) International awareness and exposure Fundamental to the intent to strengthen regional engagement is a commitment to supporting access and development of enabling infrastructure, helping regional businesses build a sustainable operating model for international trade. Leverage the Territorys geographic advantage to rebuild international trade (exports and imports) with the region Enhance export logistics for the Northern Territory in partnership with the NT Logistics Advisory Council. A unique advantage to the Territory is its geographic location and proximity to Southeast Asia, and via key hubs, faster access to more distant markets. Reviewing our export and logistics channels and exploring ways to partner with our existing and new trade partners may deliver new opportunities related to capacity/overflow management, nearshore logistics support, and more, growing our trade with the region. Two-way trade is essential to strengthen partnerships and build capacity in supply chains and infrastructure to, and from the Territory. As a smaller jurisdiction (by population), an increase in overall trade volume is essential to ensure the feasibility and sustainability of commercial agreements and supply routes. Partnering with the NT Logistics Advisory Council we will review and rebuild our supply chains to support the Territory ambition and trade needs. The Territory Infrastructure Commissioner, and Infrastructure NT, will support the work of the NT Logistics Advisory Council and lead the development of enabling infrastructure required to bolster trade routes. Diversify and create added value to the goods and services exported from the Territory Redesign the Trade Support Scheme and support Territory businesses to grow export capabilities and enter new export markets Work with the Australian Government to best position Australias Northern Territory for tourism and education services exports in the restart of international travel Establish a program to identify and facilitate export readiness in Aboriginal businesses Program launched to foster 20 new industry-led partnerships that foster trade in new and diversified products and services (5 x Aboriginal-led, 5 x regional, 5 x service, 5 x new and innovative products). To drive sustainable growth in the Territory, it will be important to focus on continuing to diversify our economy and the goods and services that we export. Meeting international market demands across a wider sector lens will support the development of new products and services for export. The Northern Territory Government will further focus on assisting Territory businesses to become export-ready and to export into international markets. INTERNATIONAL ENGAGEMENT STRATEGY 22


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