NSW companies' FTA successes
With various free trade agreements (FTAs) now in force, including most recently with China, Japan and Korea, NSW companies are making the most of the opportunities in north Asia.
Tradestart regional export advisers
NSW companies working with the Tradestart regional export advisers have successfully tapped into these markets.
RBK Nutraceuticals from Seven Hills in Sydney has expanded its range of health supplements sold in Japan and increased its sales into Korea. They are now looking to expand their reach into China as a result of opportunities arising from the China-Australia Free Trade Agreement.
Cherub Rubs, based in Nowra on the NSW south coast, manufactures organic baby care products. They are already exporting to Hong Kong, Singapore and Malaysia and are now launching their products into Korea with mainland China as the next step.
Macadamia Marketing International
Macadamia Marketing International, based out of Lismore, have already doubled sales to Japan, Korea and China since the FTAs were introduced. The company projects sales to increase from 250 to 1,000 tonnes of macadamias into these markets.
The renowned Sara Lee deserts are now being exported to Korea for the first time thanks to a tariff drop of 1.6%.
Dubbo’s Fletcher International is one of NSW’s largest processors and exporters of sheep meat and sheepskins to China. The FTA with China will benefit both sheep meat and sheepskin exporters, as the duty on both is reduced to zero over time. As a result, companies like Fletcher International will look to increase their level of exports. Since the FTA was signed and came into force with Korea in December 2014, Fletcher International increased their sheep meat exports by 30%.
These are just a few examples of the opportunities for NSW businesses to export to north Asia thanks to FTAs.