Extra $50 million for government export grants
Exporters making claims through the Export Market Development Grants (EMDG) scheme will be paid in full for 2008-09, announced Minister for Trade Simon Crean.
The Federal Government has allocated an extra $50 million towards the scheme to assist small and medium exporters recover some of the costs of going global.
“In the midst of the global recession it is vital we ensure much needed liquidity to those exporters who continue to pursue trade opportunities despite the most difficult export conditions in living memory,” said Crean.
“The extra $50 million will provide a much needed stimulus to exporters that will protect jobs and increase market share.”
The funding boost should cover 100 percent of eligible expenses of an additional 1,800 businesses, which employ more than 30,000 staff.
“Trade is an important stimulus to economic growth and must be a central part of Australia’s response to the global recession because it will be critical during the economic recovery, when it comes,” said Crean.