Every business understands the importance of having a diversity of customers. Diversity offers greater protections against changes in circumstances because you’re not reliant on one or a handful of customers.

The mid-June 2021 announcement by Prime Ministers Morrison and Johnson of an agreement in principle on the core elements of a bilateral free trade agreement will guide the negotiations to successful conclusion over the coming months.

As part of the Australian Government $72.7 million Agribusiness Expansion Initiative (ABEI), the Australian Trade and Investment Commission (Austrade) and the Department of Agriculture, Water and the Environment are helping Australian agribusinesses expand and diversify their export markets.

Economies around the world are emerging from COVID-19 at differing speeds with uneven economic growth. Facing a more complex regional landscape, many organisations are increasingly considering how to diversify for a post-pandemic world. Unlocking opportunities in the Indo-Pacific will remain key to longer-term growth for Australian companies.

This year – 2021 – we celebrate 75 years of Australia and Philippine diplomatic ties.

Electricity costs in the Philippines are among the highest in the region. There are significant energy opportunities for Australian expertise, innovations, and capital to meet this unmet need, particularly for renewable energy.

Clean hydrogen is a priority technology in Australia’s Technology Investment Roadmap. The Roadmap aims to remove the ‘green premium’ of low emissions technologies and accelerate their deployment, both in Australia and overseas. The Roadmap brings a strategic and system-wide view to future investments in low emissions technologies, in partnership with the private sector and the states and territories.

It has been a difficult few months for India. The second wave of COVID-19 has had a notable impact on predictions for India’s economic recovery. The IMF, for instance, has revised its expectations for Indian growth from 10.1 per cent to 8.3 per cent for the current financial year.

Ongoing reduction of Mexican tariffs on beef and lamb under the CPTPP will provide opportunities for Australian exporters to grow the existing USD25 million share of the USD885 million Mexican red meat market.

Australia’s second largest trading partner, Japan continues to provide opportunities for Australian exporters.

True South Seafood is one of Australia’s largest abalone exporters, having transformed from modest beginnings in 1996 to being a premium supplier of quality Tasmanian wild-caught live abalone and New Zealand Pāua.

The Department of Education, Skills and Employment (DESE) is working with a range of stakeholders domestically and internationally to diversify Australia’s international education sector so this key sector is adaptable, resilient and competitive into the future. Diversification of the international education sector will help maintain Australia’s global competitiveness and guide the sector’s recovery during and beyond the COVID-19 pandemic.

As Australia’s export credit agency, Export Finance Australia helps Australian businesses to expand into new markets when finance from commercial providers is unavailable.

Export Market Development Grants is a key Australian Government financial assistance program supporting Australian businesses since 1974.

The Australian Government is investing $20.1 million over two years to deliver a Global Resources Strategy.

Trade diversification creates new and expanded international business opportunities, and builds more agile, resilient, and sustainable businesses. Australia is working in and with the world’s key economic institutions to increase openness and certainty in the international trading environment – opening new opportunities for Australian business.

The Australian Government is celebrating the 60th anniversary of diplomatic relations with the Republic of Korea this year, a period in which our two countries have developed deep people-to people-links, a strong and complementary trade and investment relationship, collaboration on science, technology and innovation and shared strategic interests.

The economic impacts of the COVID-19 pandemic resulted in lower cross-border investment around the globe.

South Australia continues to develop its innovation credentials. In April, Lot Fourteen – an Adelaide-based innovation precinct in the CBD – welcomed Google Cloud as a new tenant.

Held every five years, the World Expos are global events, which provide a significant platform for nations to celebrate innovation, educate the public on progress made by humanity, and most importantly, foster cooperation between businesses, academics, scientists, and countries.