Editorial | January 31, 2020 | The Examiner

Editorial | January 31, 2020 | The Examiner

news, local-news,

As a small island state Tasmania has never been able to compete with exports on a quantity scale. However, in recent years, through dedication and hard work on the part of producers and makers, the state has built an enviable reputation for high-quality produce, if albeit small in numbers. Tasmanian exporters have built a quality reputation with key markets such as China, which is being tested due to the unforeseeable coronavirus. Export remains a key strength in the state’s economy and as the latest Commsec state of the states report shows, the economy is thriving because of it. From the unenviable position of second-last, only ahead of the Northern Territory, Tasmania has bolstered its economic prosperity and now has jumped to second ranked among the states. Only Victoria is outperforming Tasmania, which is remarkable considering the population and demographic differences between them. Coronavirus is an unknowable chink in Tasmania’s economic armour, something that could not be foreseen but also something that is already making a dent. The abalone and lobster industries have already been impacted and it’s likely that the tourism industry, a strong player in the state’s economic fabric, may also be impacted by less international travellers coming to the state. China will always be a key trading partner to Tasmania and Australia more broadly, but it might be the time to begin looking further afield to ensure a wide spread of export partners. Work has already begun in this area, with the state government recently embarking on a trade mission to Japan in March 2019. A trade mission to the United States is also planned for the state government “in the first half of 2020” for a trade and investment mission. While the Tasmanian economy will continue to grow and its relationship to China will recover after coronavirus cases begin to subside, the time is right to consider branching out. While the economy is in a relatively strong position and Tasmania’s brand is concrete, we should be proud to take that brand to the world to show them what we have.

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As a small island state Tasmania has never been able to compete with exports on a quantity scale.

However, in recent years, through dedication and hard work on the part of producers and makers, the state has built an enviable reputation for high-quality produce, if albeit small in numbers.

Tasmanian exporters have built a quality reputation with key markets such as China, which is being tested due to the unforeseeable coronavirus.

Export remains a key strength in the state’s economy and as the latest Commsec state of the states report shows, the economy is thriving because of it.

From the unenviable position of second-last, only ahead of the Northern Territory, Tasmania has bolstered its economic prosperity and now has jumped to second ranked among the states.

Only Victoria is outperforming Tasmania, which is remarkable considering the population and demographic differences between them.

Coronavirus is an unknowable chink in Tasmania’s economic armour, something that could not be foreseen but also something that is already making a dent.

The abalone and lobster industries have already been impacted and it’s likely that the tourism industry, a strong player in the state’s economic fabric, may also be impacted by less international travellers coming to the state.

China will always be a key trading partner to Tasmania and Australia more broadly, but it might be the time to begin looking further afield to ensure a wide spread of export partners. Work has already begun in this area, with the state government recently embarking on a trade mission to Japan in March 2019.

A trade mission to the United States is also planned for the state government “in the first half of 2020” for a trade and investment mission.

While the Tasmanian economy will continue to grow and its relationship to China will recover after coronavirus cases begin to subside, the time is right to consider branching out.

While the economy is in a relatively strong position and Tasmania’s brand is concrete, we should be proud to take that brand to the world to show them what we have.

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