AUSTRADE is providing services to help companies continue to trade with countries impacted by SARS and who are unwilling to put their own staff at risk.
AUSTRADE is providing services to help companies continue to trade with countries impacted by SARS and who are unwilling to put their own staff at risk.
In addition, Austrade is trying to ensure it is business as usual as it continues to promote export opportunities in regions affected by SARS.
Austrade chief economist Tim Harcourt said the WTO had predicted world trade growth in 2003 to fall from 3 per cent to 2.5 per cent as a result of the disease.
“Austrade is using ‘new economy’ technologies to help Australian exporters who are unwilling to travel to SARS-affected markets,” Mr Harcourt said. “SARS could, in effect, kick-start a mini dot.com boom.”
Austrade is also meeting with business partners in Asian markets on behalf of Australian clients.
“Another consequence could be more openness in China, which may actually help in terms of corporate governance and transparency,” Mr Harcourt said.
“Fortunately, Australia’s position as a strong commodity exporter to China and the rest of East Asia means we will not be as adversely affected by SARS as other economies.”
He said other countries normally undertook foreign direct investment, which was more people intensive, relying on travel and relationship building.
“However, commodity sectors are not totally immune from a SARS related downturn. For instance, some seafood exporters are noticing a drop-off in demand for upmarket hotels and restaurants in Hong Kong,” Mr Carcourt said.
“But there has also been evidence of a substitution effect where Australian exporters are now supplying supermarkets instead of restaurants.
“Many Hong Kong residents are eating at home. This has strengthened demand for high quality Australian beef and seafood in Hong Kong supermarkets. So what we’ve lost in restaurants we’ve picked up at the supermarket cash register.”
Austrade is also calling on Australian consumer healthcare companies to participate in a product promotion tour covering five cities – Singapore, Kuala Lumpur, Bangkok, Jakarta and Manila.
Austrade’s health and medical specialist Anthony Weymouth said Austrade had identified consumer healthcare export opportunities for products ranging from vitamins and health supplements to natural cosmetics, hair-care products and more. The in-market program will run from May 29 to June 18.
