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SCMP Reporter

THE Australian Trade Commission (Austrade) has agreed to provide finance to help promote the nation's race horses in China and other parts of Asia.

  The project is being undertaken in conjunction with the Australian Thoroughbred breeding industry.

  Austrade and the breeders have joined forces to form Aushorse, which is expected to commence operations in April.

  It is anticipated Aushorse will have a budget of more than A$1 million to cover its first two years of operation.

  'China is a major focus because its horse racing industry is still in its infancy,' said Brian Agnew, chairman-elect of Aushorse.

 Agnew predicted that, with the economic development in China, the popularity of racing would boom.

  'We, in Australia, can sell quality horses at a lower cost than other countries,' he said.

  'Also, we have a good track record from previous sales of our horses into Hong Kong, Malaysia, Singapore, South Africa and other places.

  'It is also a feather in our cap that Australia has been chosen to provide the 26 horses to be sold, at auction, in Hong Kong in December.'  Agnew also believes there is an obvious market for other Thoroughbred racing products throughout Asia.

  'There is also a demand for things such as pre-packaged feed, saddlery, veterinary products and services, training for jockeys, equine studies and off-course betting equipment and know-how,' he said. 'On that basis I believe that the Asian markets, as a whole, could be worth A$1 billion in five to 10 years.' 



Breeders to target Chinese