Mechanism
The International Freight Assistance Mechanism (IFAM) has been a lifeline for Australian producers and exporters during the COVID-19 pandemic. Since its introduction, it has enabled businesses to continue exporting their goods to key markets around the world, despite the significant reduction in passenger flights.
The $110 million dollar initiative has been successful in helping farmers and fishers get their high-quality produce into international markets, and has supported the recovery of the Australian economy. The scheme has enabled a better coordination of freight leaving Australia, restoring key freight routes and establishing more frequent flights to the country’s key markets.
The program has already seen significant interest, with over 560 registered businesses and 50 flights booked for high-value products. The key markets for Australia’s agriculture and seafood exports include China, Japan, Hong Kong, Singapore, and the United Arab Emirates, although this list may expand depending on demand.
The IFAM has also assisted in bringing essential items back into Australia, in response to the current pandemic. This has been critical in ensuring that producers of high-value exports, including seafood, red meat, dairy, and horticulture, can continue to operate and deliver their products on time.
The increase in flights has been welcomed by the trade sector, as COVID-19 had severely impacted the number of flights to and from Australia. The scheme has provided a much-needed boost to the industry, helping to reduce the barriers that agricultural and fisheries exporters face and allowing them to focus on producing the best and highest-quality product in the world.
Conclusion
Overall, initiatives like the IFAM are crucial for Australia’s economic recovery and will continue to play a significant role in the country’s foreign and logistics scene. It is essential to stay up to date with the current news relating to these developments to fully understand their impact on the industry and the broader economy.
