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Trade Talk, 12 February 2015

Australia, an important player in global Foreign Direct Investment

Australia attracted 2.3% of all inward global Foreign Direct Investment (FDI) in 2013 and was responsible for 1.8% of outwards global FDI. Australia's 2013 share of global combined FDI was significantly higher than its 2013 share of global trade, and slightly higher than its share of global GDP.

DFAT Publication: Australia's position in global and bilateral foreign direct investment

Progress made towards Australia's Tourism 2020 strategy

Australia's tourism ministers met with industry leaders and the New Zealand Government last week. Ministers discussed progress towards Australia's Tourism 2020 strategy. The Australian tourism industry is expected to double in size over the next two decades.

TIM Media Release: Tourism Ministers unite and call for fuel savings to be passed onto customers

Parliamentary Secretary Ciobo in US fostering trade ties

Parliamentary Secretary Ciobo visited the United States 4–8 February to foster trade ties with the South Eastern United States. The US is Australia's largest source of FDI and Australia-US trade is at an all-time high.

PS Media Release: Promoting Australian business ties with the United States

Talented Australia ranks in the world's top 10

Australia ranks in the world's top 10 nations for the quality of talented people it produces, attracts and retains, according to the 2014 Global Talent Competitiveness Index (GTCI). Australia ranked 9th out of 93 countries in the 2014 rankings, up from 15th place in 2013, with Switzerland topping the list.

Austrade News: Talented Australia ranks in the world's top 10

Australia Business Week in India

Trade Minister Robb recently led a Government trade and investment mission to India for Australia Business Week in India. The successful mission showcased 'Restaurant Australia' to high level political and commercial entities. Tourism Australia has created a short video for industry the event.

Tourism Australia Video: Australia Business Week in India

IMF Managing Director urges delivery on G20 growth commitments

"I strongly support the G20's call for action to implement the commitments of the Brisbane Action Plan to raise global growth by at least 2% over the next 4 years," said Ms Lagarde. "Given the risk of persistent low growth and high unemployment faced by many countries, time is of the essence".

IMF Press Release: IMF Managing Director Christine Lagarde Urges Delivery on G20 Growth Commitments

WTO Members meet to support LDCs in world services trade

WTO members met in Geneva last week to discuss ways to support the growth of services trade in Least Developed Countries (LDCs) including through preferential treatment for LDCs' services exports. This was an important step in implementing a key Bali decision to help LDCs participate in world services trade.

WTO News: Members move to enact Bali decision on LDC services waiver

Did you know?

Australia's beef exports to the US were worth $2.4 billion in 2014, up from $1 billion in 2013. That's a jump of nearly 140%.

Last Updated: 13 February 2015
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