Small and medium-sized enterprises (SMEs) in the State of Western Australia (WA) have been encouraged to engage in the lucrative Asian marketplace to help lift the economy out of the pandemic crisis.
Businesses wanting to enter key Asian markets can access a total of 200,000 Australian dollars (143,000 U.S. dollars) in grants aimed at creating jobs by diversifying trade with Asia, officials said late Tuesday.
"Despite the constraints imposed by the COVID-19 pandemic, there is still plenty WA SMEs can do to facilitate trade with key Asian markets," WA Asian Engagement Minister Peter Tinley said.
The grants will help companies deal with issues created by the pandemic, such as travel bans and shipping disruptions, by adopting new business models, developing export plans that manage COVID-19 implications or accessing entirely new markets in the Asian sector.
"The grants can be used for a wide variety of support projects, such as develop partnerships through specialist in-market support and services, increasing innovation in logistics and supply chain models and scoping new e-commerce models and digital platforms," Tinley said.
Key lucrative markets across Asia will be targeted including China, India, Indonesia, Japan, Malaysia, Vietnam and Singapore.
"This is just one way the state government is delivering on its Asian Engagement Strategy to help WA bounce back from COVID-19 and create jobs for Western Australians," Tinley said.
