Trade Talk, 1 September 2016
PACER Plus a step closer
Negotiations around the treaty text for the Pacific Agreement on Closer Economic Relations Plus have now concluded, with Trade Ministers aiming to conclude remaining market access negotiations by the end of October, and sign the Agreement by the end of the year. PACER Plus is unique in that it is both a trade and a development agreement. It will simplify and enhance regional trade and help Pacific Island Forum countries grow their economies, Minister Steven Ciobo said.
Strong export interest for South Korea
Assistant Minister Keith Pitt recently highlighted the opportunities for Australia's food and beverage industry through the Korea-Australia Free Trade Agreement. Korea is our fourth largest trading partner and an economy where our products and services can make significant inroads. With our food and beverage sector viewed in overseas markets as high quality and safe, there are incredible opportunities to expand.
2015-16 International Visitor Survey
A record 7.2 million international visitors arrived in Australia in the year to June 2016, an increase of 10% according to Tourism Research Australia's International Visitor Survey. Our tourism industry is currently growing three times as fast as the rest of the Australian economy with international tourist spend increasing by 14% over the year.
Business Envoy: Further strengthening Australia-US trade relations
A new edition of DFAT's business envoy is out now with a focus on the United States. The US represents one of our most important economic relationships and it presents Australian businesses with boundless opportunities. The publication also offers insights on the economic impacts of geopolitical events from DFAT's global diplomatic network.
Canada Pension Plan Investment Board opens Sydney office
Canada Pension Plan Investment Board is opening a standalone office in Sydney to formalise its existing Australian operations. Australia is an important market for CPPIB with C$7.9b invested in the country. Canada's pension industry continues to be an important investor in Australia with significant investments recently made in our agribusiness and food sectors.
Japan opens the door for Australian melons and pumpkins
Australian farmers can now export melons and pumpkins to Japan with both countries announcing that they have agreed on rules for market access. Japan represents an important new market for our watermelons, rockmelons and honeydew melons with Minister Barnaby Joyce confident that "the world-class quality of local produce will see our growers become very competitive in Japan in short order."
Setting up business in APEC now 50% faster
It now takes half the time to set up a business in the Asia-Pacific region compared to ten years ago according to recent indicators from the Ease of Doing Business initiative. The average time to start a business went from around 28 days to 15 days, the time to obtain construction permits had also reduced along with the time to obtain business credit.
What to expect from China's G20 summit
China will host this year's G20 summit in Hangzhou 4-5 September with the theme 'jointly striving for an innovative, invigorated, interconnected and inclusive world economy'. Four measures will be prioritised to promote the realisation of this goal: fostering innovative approaches to growth, improving global economic and financial governance, building an open world economy and inclusive and interconnected development.
Did you know?
The city of Melbourne celebrated its birthday this week, turning 181 years old. In 2015, over $27b of goods were exported from the Port of Melbourne, the highest value of any port in the country.
Upcoming Trade Events
Philippine Education Market Briefing Networking Session 2016
Sydney NSW, 8 September 2016
Participants in education agent expos in the Philippines can register for the Australia Future Unlimited - Philippine Education Briefing and Networking Session which will feature an information session from key stakeholders on the country's education market. Providers can find out about trends and opportunities available.
Know-How for Inbound Tourism Excellence program
Melbourne VIC, 21 September 2016
This program by the Australian Tourism Export Council helps businesses connect with the international tourism market. The Know-How for Inbound Tourism Excellence or KITE program prepares tourism businesses for international readiness, providing market specific insights and specialist topic webinars. Visit the registration page to search for further dates and locations.
Medical Technology Association of Australia 2016
Sydney NSW, 27-28 September 2016
This year's conference theme is 'The BluePrint for a Stronger Australian MedTech Industry' with day one including a session on getting it right in Asia. Whether you're an Australian exporter or member of a multinational company operating in cross national teams, this session will help you work effectively in Asia.