Global opportunities are right on Western Australia’s doorstep as demand for ‘clean and green’ Australian products amps up in Asia.
Tapping in to that demand is ANZ, which is taking banking to a whole new level by offering client tours to Asia, making it easier than ever for potential exporters to find new markets.
The bank took 22 food and beverage businesses – including two from WA – on a trip to Shanghai and Hong Kong in October for networking, to meet potential distributors and to gain an understanding of Asian preferences and customs.
High profile brands included Bulla ice cream, De Bortoli Wines PFD Food Services and food processors and manufacturers Beak and Johnston are among those going on the trip as well as WA brands Dimattina Coffee and Bee Firm NRG drink.
It’s the second trip this year organised by the bank, which pays all costs except airfares and sets up all meetings.
ANZ’s Asia Pacific Desk Manager Cameron Jansen says it’s an example of how banking is moving towards being more insights driven.
“We are organising seminars and providing opportunities on the ground for business matching, talking to distributors or consultants to understand how their product might go,” he says.
With a demand from Asia for ‘clean, green’ Australian products, Jansen says it’s a great time to tap into new markets, especially with e-Commerce and the internet making it easier than ever.
Potential exporters will also learn how to get their products in with global online mega retailers including Alibaba and Amazon.
“A visit to Alibaba China gives them a bit of a sense of what they’re up for, what the market is, market entry advice and how to establish your product in these channels.”
ANZ’s 2016 Opportunity Asia report of 1000 Australian businesses found:
- 50 per cent said doing business with Asia increases profits
- 57 per cent said it would make more sustainable growth far more achievable
- 55 per cent employed more staff when they started doing business in Asia
- 57 per cent were targeting china
- 64 per cent said accessing capital for an Asian expansion was no more challenging than securing funds for other markets
- 73 per cent said Asian profit margins are higher or comparable to their domestic profit margins
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