AFEX, one of the world’s largest non-bank providers of global payments and risk management solutions, has established a dedicated Australian Export Solutions team to assist Australian exporters.
The team, based across the Australian capitals, specialise in livestock and meat processing, seafood, cotton, grain, wool, commodities and forestry.
Australian exports have been steadily increasing in recent years, rising 17 percent from 2015-16 to 2016-17, reaching a total of $365 billion in goods traded last year.
Combined with increased client demand for export-centric services, AFEX Asia Pacific General Manager Richard Poulton saw a gap in the market.
“Australia is renowned for the quality of its goods and services, particularly in the agriculture and commodity space, so it is no surprise that global demand is continuing to increase. The opportunities for Australian businesses to engage in global expansion and trade had never been greater,” Mr Poulton said.
“The challenge for exporting businesses is to keep pace with demand and ensure their international exposure is managed,” he said. “Too often businesses are impacted by unexpected movements in the currency markets, unnecessarily risking their hard-earned profit margins.
Tailored currency risk management
“This was a key reason behind the creation of the dedicated Australian Export Solutions team.”
The dedicated team of four experts, headed by AFEX National Manager Darren Tomich, bring a wealth of industry experience. They have worked with multinational and SME businesses for a combined 60 years.
The team is committed to providing tailored currency risk management and dedicated account management for exporting clients.
AFEX recently opened a head office in Singapore to facilitate the increased demand from the Asian region for Australian produce.
AFEX now services nearly 8,000 clients in Australia – a 200 percent increase in the past five years.