Australia- Vietnam enhanced economic engagement ECA Submission

The Export Council of Australia welcomes the Australian Government’s intention to deepen and broaden two-way trade between Australia and Vietnam. Moving forward, we suggest the Government’s efforts be targeted at SME traders. SME exporters are more likely to be able to pivot to new markets, and their success will contribute to employment creation and increased innovation.

Whether in Australia or Vietnam, SMEs, including start-ups, have strong entrepreneurial drive. But they are constrained by limited resources, access to information and networks. The challenges are even more pronounced when doing business at an international level, with difficulties in identifying commercial opportunities, cultural and language barriers, meeting ambiguous and inconsistent regulations and standards, and complex trade processes, including on finance and logistics. Enhanced government assistance to narrow these gaps, especially for exporting, will be essential.