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Money still makes exports go round

Money still makes exports go round article image
Parliamentary Secretary for Trade Anthony Byrne underlined the continuing importance for access to finance in his 'Financing Exporting Success in Good Times and Bad' address at the Australian Export Awards Sydney breakfast yesterday. He singled out the plight of small and medium businesses at the start of their export journey, which he said "often face great obstacles when it comes to securing finance and convincing lenders that they have a viable business model or a worthy product". Byrne highlighted the need for research on the market to better understand the trade finance system, which would in turn improve access to credit for SMEs. "The World Trade Organisation has noted that greater cooperation among the world's financial institutions can help provide a clearer picture of the trade finance situation," he said. "[The Australian Government is] determined to help exporters gain access to the capital an information they need to make good investment decisions." In the panel discussion that followed Byrne's speech, representatives from exporters Appen, Russell Mineral Equipment and Divex also pointed to foreign exchange fluctuations as a particular challenge of the past 12 months.

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