Trade mission sparks $60m

A Victorian government funded electronics industry capability mission to North Asia last year has generated almost $60 million in actual and anticipated sales over three years, according to the government.

Participants have reported an extra $50,000 worth of sales, last financial year, as a direct result of the mission, with a further $59.3 million of orders expected to be filled over the next two years.

Numerous collaboration and commercialisation opportunities have been identified across areas including optoelectronics, telematics, nanotechnology, intelligent transport systems and the Australian synchrotron.

In addition, several high-level reciprocal visits from Taiwan, Thailand and Hong Kong have taken place and the mission has facilitated the signing of a bilateral electronics/ICT industry strategic framework agreement with Taiwan.

The mission consisted of 20 Victorian firms under the auspices of the Australian Electrical & Electronic Manufacturers' Association (AEEMA) as part of Victoria's participation in the national electronics industry action agenda.

Participants spent the majority of the time in Taiwan exhibiting in the Tatironics International Electronics Show in Taipei and taking part in numerous networking functions and business-to-business, government and industry association meetings.

The mission also visited Hong Kong and China with a small delegation visiting Thailand to explore opportunities for Victoria under the Thailand-Australia Free Trade Agreement.