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Trade Talk, 16 October 2014

Trade Talk brings you a selection of the latest trade news from Australia and the world.

16 October 2014

Australian Government invests $188.5 million in Industry Growth Centres

The Australian Government will invest $188.5m in Industry Growth Centres to pursue global excellence in areas of competitive strength. The industry led centres will bring together expertise and provide the infrastructure needed to drive growth and jobs creation in key sectors.

PM Media Release: Growth Centres to Boost Competitiveness

Industry: Information on Industry Growth Centres

Indian Ocean region commits to enhancing economic growth

The Indian Ocean Rim Association (IORA) Council of Ministers' Meeting in Perth agreed last week to a range of initiatives to address the region's pressing economic growth, development and security challenges. More than 2 billion people live around the Indian Ocean Rim.

FM Media Release: Indian Ocean region commits to enhancing economic growth

Review of Australia's Border Fees, Charges and Taxes: Industry consultation

The Government has commissioned a joint review of border charges, fees and taxes. The review is an opportunity for industry and the community to contribute ideas about managing our border to enhance trade growth and boost Australia's economic prosperity. Deadline for comments is 31 October 2014.

Border fees review: Joint Review of Border Fees, Charges and Taxes

Australia's International Business Survey now open

Run by the University of Sydney on behalf of the Export Council of Australia, supported by Austrade and EFIC, the survey seeks feedback from Australian companies across all industries involved in international business. The results will drive the agenda for the future of Australia's international business.

Austrade News: Australia's International Business Survey 2014/15 now open

Scholarship for women in international business 2015

Minister Robb has announced the opening of nominations for the 2015 Beryl Wilson Austrade Scholarship for Women in International Business. The $40,000 scholarship honours Australia's first female Trade Commissioner and aims to encourage more women to pursue an international business career.

TIM Media Release: Scholarship for women in international business

Applications: Beryl Wilson Scholarship application

Trade critical for boosting growth in the developing world

The WTO and World Bank Group have agreed to enhance their co-operation in assisting developing countries and LDCs to better-utilise trade facilitation programs. "Trade is a critical component to ending poverty and boosting shared prosperity," said World Bank Group President Jim Yong Kim.

WTO News: WTO and World Bank join forces to provide Trade Facilitation support

The impact of trade on jobs, consumer welfare and development

The WTO Public Forum earlier this month examined the possible impact of trade on jobs. Topics of particular focus included, global and regional value chains, and the benefits of trade liberalisation in developing countries.

WTO News: Day 3 of Public Forum looks at impact of trade on jobs, consumer welfare and development

Joint ITC-WTO Workshop on Aid for Trade and SME Competitiveness

A joint International Trade Centre-WTO workshop on Aid for Trade and SME Competitiveness noted that SMEs play an important role for employment, income growth and gender empowerment. The Aid for Trade Work Programme for 2014-2015 is focused on "reducing trade costs for inclusive, sustainable growth".

WTO News: Joint ITC-WTO Workshop on Aid for Trade and SME Competitiveness

ACT-Shenzhen MOU to provide economic boost

The ACT Government this week signed an MOU with the rapidly developing Chinese city of Shenzhen. It is hoped the MOU will lead to greater investment in digital technology and innovation between the two cities. Shenzhen has a population of 15 million and a dynamic economy eight times larger than the ACT's.

ABC News: ACT hopes for economic boom after signing agreement with the city of Shenzhen, China

Pacific Islands secure tuna deal with US

Pacific Island countries and the US have reached a $90m tuna deal. The 17 member countries of the Pacific Island Forum Fisheries will receive US$90m in exchange for 8,300 fishing days in 2015. The treaty has been under negotiation since 2009.

ABC News: Pacific Island nations secure $90m tuna deal with United States

OECD: Global well-being since 1820

New OECD research shows that well-being has improved significantly since the early 20th century across a large part of the world. The historical data covers measurements of real wages, per capita GDP and educational attainment, and mirror those of the OECD's regular How's Life? publication.

OECD News: How Was Life? Shows long-term progress in key areas of well-being

Did you know?

IORA countries, Australia, Bangladesh, Comoros, India, Indonesia, Iran, Kenya, Madagascar, Malaysia, Mauritius, Mozambique, Oman, Seychelles, Singapore, South Africa, Sri Lanka, Tanzania, Thailand, United Arab Emirates and Yemen, accounted for 29.6 per cent of the world's population and 9.3 per cent of GDP in 2013.

Trade articles sourced from non-Australian Government sources do not necessarily reflect the views of the Australian Government.

Last Updated: 16 October 2014
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