Western Australian Fisheries Minister Peter Tinley has unveiled an industry-supported Aquaculture Development Plan to expand Western Australia's blue economy, attract new investment and help create an estimated 6,000 jobs.

The plan aims to develop Western Australia’s aquaculture industry, assist local operators and attract overseas investors to take advantage of the forecast 30% increase in global seafood consumption over the next decade.

Growth opportunities in the state include barramundi and rock oyster in the Kimberley; rock oyster in the Pilbara; marine finfish, rock oysters, coral and seaweed off the west coast including the Mid-West; and shellfish such as abalone, rock oysters and other bivalve species in the Great Southern.

For more information on the aquaculture plan, funding or investment opportunities please view our video or visit our website.  More...  Source:  WA Minister for Fisheries  / DPIRD  | Photo:  DPIRD [Barramundi fingerlings, Marine Finfish Hatchery, Fremantle]

Western Australian food and beverage manufacturers and primary producers can still apply for a slice of $700,000 worth of vouchers to engage consultants or technical experts to grow their business.

A maximum of $30,000 worth of vouchers ($10,000 each) are available to eligible businesses to help diversify the state’s economy with job creation through sustained business growth and improved competitiveness.

Vouchers can be used for a range of professional services including export capability development, business planning, quality assurance, technology and digital advisory, or transitioning to manufacturing.

View how participants of the program have used vouchers to grow and expand their businesses.

Online applications close 5pm (AWST) Friday 11 December 2020.  Apply now.

For more information on eligibility or criteria please visit our website, read the Guidelines or email foodindustryinnovation@dpird.wa.gov.au.  More...  Source and Photo:  DPIRD

Do you know a small or medium business, entrepreneur or start up in WA, ripe for investment?

If so, encourage them to participate in our final two virtual Investor Readiness Masterclasses.

Register now

DPIRD, in collaboration with BDO Australia, is hosting a series of free virtual masterclasses for business owners, leaders and entrepreneurs seeking to secure investment or increase international competitiveness for their business.

The masterclasses provide expert advice from business strategists, who will guide business owners and managers through key elements of becoming investor-ready to successfully execute a capital raising process.  Participants are fully immersed in an all-day virtual workshop with handbook, tools, tips and follow up support to increase their competitiveness and become investor-ready.

People and processes  –  25 November 2020    
9.30am - 4.30pm (AWST)            
Do you have the right people in the right roles and how does this impact investors?  Having a strong management team enhances future earning capabilities and reduces investment risk.

Business valuation and exit strategies  –  9 December 2020    
9.30am - 4.30pm (AWST)              
Develop ways to value your business when preparing sales and investment data.

More information is available on the DPIRD website or email  investment@dpird.wa.gov.au.  More...  Source:  DPIRD

DPIRD's Agribusiness, Food and Trade area supports Western Australian agrifood businesses in their efforts to develop high-value premium export markets in Asia.

Partnering for Customer Value is a new initiative implemented by the State Government’s $6 million Asian Market Success program to provide WA’s agrifood businesses with research and business intelligence on practices that lead to international competitiveness and improved export capacity.

The initiative commissioned a series of 11 case studies to identify patterns of success in business management, which have the potential to enhance the international competitiveness of WA’s agrifood businesses.

The third event of the series, A Conversation with OBE Organic, will feature Dalene Wray, Managing Director of OBE Organic.  She has performed practically every role, including overseeing production at the abattoir and five years in Hong Kong managing OBE’s Asian and Middle Eastern markets. Ms Wray has unique knowledge of OBE Organic’s business from how the cattle are raised through to how chefs serve their beef which includes certified organic and Halal products.

This event, on 2 December 2020 at 11am (AWST), is brought to you in partnership with Meat and Livestock Australia and WA's Premium Beef Project.  More... 

The Commonwealth Scientific and Industrial Research Organisation and Austrade have just released a report on how Australia can respond to a new trade and investment landscape.  The purpose of the Global Trade and Investment Megatrends report is to help secure Australia’s future and catalyse new trade and investment by identifying global megatrends emerging in the post-COVID-19 world.

It presents the results of a strategic foresight study exploring changes in the global trade and investment landscape likely to occur over the coming months and years.  A set of strategic actions for Australian governments and industries to capitalise on significant shifts in the global trade and investment landscape are also proposed.

There are five megatrends shaping global trade and investment presented in the report:

1. A changing economic landscape – time for rebuilding and recovery
2. The digital rebound – ten years of digital transformation in just a few months
3. Resilient supply chains – buyers looking towards new, secure and reliable options
4. Closer to home – living and buying patterns are coming closer to home
5. The new normal – business as usual unlikely to return.

Austrade says these shifts in the global economy present an opportunity for Australian businesses to achieve first-mover advantages.  More...  Source and Graphic:  CSIRO / Austrade

Australian farmers and businesses are set to benefit from better export opportunities with the signing of the Regional Comprehensive Economic Partnership (RCEP) Agreement between Australia and 14 other Indo-Pacific countries last weekend.

When finalised, the main benefits of RCEP for Australia will be:

• A new single set of rules and procedures for accessing preferential tariffs in any of the 15 RCEP markets.
• New scope for trade in services throughout the region including across telecommunications, professional and financial services.
• Improved mechanisms for tackling non-tariff barriers including in areas such as customs procedures, quarantine and technical standards.
• Greater investment certainty for businesses.
• Rules on e-commerce to make it easier for businesses to trade online.
• A common set of rules on intellectual property.
• Agreed rules of origin that will increase the competitiveness of Australian inputs into regional production chains.

Australia will work towards ratification of RCEP in 2021.  Further information is available on the Department of Foreign Affairs and Trade website.  More...  Source:  Prime Minister of Australia / DFAT  |  Photos / Graphic:  DPIRD / DFAT

There are opportunities in Myanmar for Australian exporters of basic groceries, horticulture, meat and dairy products, Austrade reports in its latest ASEAN region update for Australian exporters.

Austrade says large retailers – such as Metro-Wholesale, Makroclick and Citymall – have created e-commerce channels.  There is also an increasing number of international food-delivery platforms such as Food Panda and Grab Food, as well as local door-to-door services such as Food2U.

While e-commerce has grown significantly in Myanmar, transactions are still mostly in cash, with payment made upon delivery. This is due to limited digital payments infrastructure.

For further assistance, please contact Austrade.  More...  Source:  Austrade  |  Photo:  Julien de Salaberry / Unsplash [Inn Wa, Myanmar]