26 September 2013
New Australian Minister for Trade and Investment
Prime Minister Tony Abbott has announced Andrew Robb as the new Minister for Trade and Investment. The Prime Minister said that the Minister would work to ensure that the momentum towards the conclusion of advantageous trade agreements is resumed.
Press Conference Transcript: Incoming Coalition Ministry
Australia's new APEC Ambassador
The Foreign and Trade Ministers announced this week the appointment of Mr Sam Gerovich as Australia’s Ambassador for Asia-Pacific Economic Cooperation (APEC). Mr Gerovich will work to achieve Australia’s priorities within APEC including cross border education co-operation and services liberalisation.
Joint FM and TM Media Release: APEC Ambassador
Trade and investment continues to grow between Australia and APEC
More than two-thirds of Australia’s total trade takes place with other Asia Pacific Economic Cooperation (APEC) members according to the DFAT publication “The APEC Region – Trade and Investment”. Australia’s total trade with APEC grew 1.4% in 2012 while Australia’s investment in APEC economies rose 7.3%.
DFAT Media Release: Australia's trade and investment with APEC grows
New WTO DG: We must be committed to delivering a deal in Bali
WTO Director Roberto Azevêdo used his inaugural WTO General Council speech to outline his priority of a “successfully negotiated outcome” at the 9th Ministerial Conference in Bali. Azevêdo advised he would immediately commence consultations in order to deliver success in Bali.
Global value chains (GVCs) offer opportunity for growth
A joint report by the OECD, WTO and UNCTAD details how GVCs have become a dominant feature of world trade and investment. The report states that developing economies with the fastest growing GVC participation have GDP per capita growth rates 2% above the average.
EU Report: Trade protectionism still on rise across the world
An EU report has identified more than 150 new trade restrictions introduced between May 2012 and May 2013 among its 31 main trading partners. However the growth of trade protectionism has slowed. The report confirms the findings of a similar report released by the WTO in June this year.
Did you know?
Australia's trade with APEC grows 330%… Australia's trade with APEC economies has grown by 330% in the 20 years to 2012. This growth outpaced Australia's trade with the rest of the world, which was a respectable 272% over the same period.