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17 April 2014 New
Invitation for submissions for WTO environmental goods negotiations
DFAT is inviting submissions as input to negotiations for a WTO agreement to remove tariffs on a range of environmental goods. Minister Robb announced in January that Australia would join 13 other members of the WTO in negotiating such an agreement. Submissions can be lodged at email@example.com.
DFAT – Further Information: Environmental Goods Negotiations
Call for submissions on enhancing trade with the Middle East
Parliament is seeking submissions to its Inquiry into Australia's trade and investment relationships with the Middle East by 14 May 2014.
APH Media Release: Australia's multi-billion dollar trade with Middle Eastern countries
Minister to promote opportunities for business in the UAE and Saudi Arabia
Minister Robb visited the UAE and Saudi Arabia this week, where he opened Australia Unlimited Gulf 2014, a month of events showcasing Australia as a premier trade, investment and tourism destination. Mr Robb also met with senior Ministers in Saudi Arabia and the UAE this week, to encourage the Gulf Cooperation Council to resume FTA negotiations.
TIM Media Release: Visit to UAE and Saudi Arabia
TIM Transcript: Australia Unlimited event, Media conference, Dubai UAE
Australia and China work to deepen financial ties
Australia and China have agreed to enhance the offshore market development of China's currency. The countries' central banks are working together on clearing and settlement arrangements in Sydney. The AUD is the 4th most traded currency on China's Foreign Exchange Trading System.
Treasurer Media Release: Deepening Financial Ties with China
Aid for Trade figures show a significant increase in commitments
Aid for trade increases the capacity of developing countries to engage in international trade. Preliminary 2012 aid for trade figures show a 20% rise in commitments to developing countries. This increase was mainly directed at middle-income countries and in the form of loans. In 2012, only 35% of aid for trade was in grant form.
WTO News: Aid for Trade Flows Rebound
Improving children's lives through the global trading system
WTO Director-General Azevêdo spoke last week on the benefits of trade to children's lives and prospects including the flow-through benefits to youth unemployment and child poverty. The speech highlighted the links between economic growth and poverty alleviation.
Modest upturn in trade growth for 2014 and 2015
WTO economists this week predicted 4.7% trade growth in 2014 and 5.3% in 2015. “For the last two years trade growth has been sluggish. Looking ahead, if GDP forecasts hold true, we expect a broad-based but modest upturn in 2014, and further consolidation of this growth in 2015” said WTO DG Azevêdo.
Did you know?
Australia's goods exports to Saudia Arabia were valued at $2 billion in 2013 and included passenger motor vehicles, wheat and meat.
Trade articles sourced from non-Australian Government sources do not necessarily reflect the views of the Australian Government.
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