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Public procurement localisation
The Commonwealth Procurement Rules amendments announced on 30 November 2016 will, among others, introduce a requirement to consider "the economic benefit of the procurement to the Australian economy" for procurements exceeding AUS$ 4 million (approx. USD 3 million).
According to Australian news media, the amendment will more specifically require suppliers, bidding for government tenders exceeding AUS$ 4 million, to prove that they are utilising locally produced goods, contributing to local employment and in general benefiting the Australian economy as a whole. The government procurement market totals AUS$ 57 billion (approx. USD 42 billion) according to the Ministry of Finance. The changes will come into force on 1 March 2017.
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