Trade Talk 17 December 2015
17 December 2015
Trade Talk is taking a break for the holiday season, returning January 21. From all here at the Trade Talk team, we wish all our readers a Merry Christmas and a safe and prosperous New Year.
China-Australia FTA (ChAFTA) enters into force this Sunday, 20 December 2015
The historic ChAFTA enters into force this Sunday, 20 December 2015. DFAT's website includes a range of resources for businesses and the public, including factsheets, FAQs, a new import/export guide, and an FTA Portal which gives information about tariffs, rules of origin and market snapshots.
DFAT: ChAFTA FAQs
Robb to promote new approaches to global trade liberalisation
Minister Robb is attending the Tenth Ministerial Conference of the World Trade Organization in Kenya this week, promoting new approaches to global trade liberalisation. Minister Robb said he will also advocate for the abolition of trade distorting export subsidies to enhance the competitive position of Australian exporters.
WTO Members agree to expanded Information Technology Agreement (ITA) Coverage
On 16 December 2015, more than 50 WTO Members agreed to expand commitments under the ITA. The agreement will remove tariffs on a further 201 technology products currently worth US$1.3tr in global exports. This will put downward pressure on the cost of a range of key IT products and assist our high tech export industries.
Australia's aid for trade investments encouraging economic growth
Ministers Bishop and Robb have announced that Australia will contribute $6m in aid for trade investments to help boost trade and encourage economic growth in developing countries. In 2014-15, Australia's aid for trade investments increased to $823m, or 16.4% of the aid budget, up from 12.8% in 2013-14.
Joint Media Release: Aid for trade driving growth in our region
Regional Australia receives tourism funding boost
Rural and regional areas in Australia are expected to receive a tourism boost with the Government investing more than $95m in regional tourism infrastructure projects. Senator Colbeck said projects will include a new Arts and Community Precinct in Karratha (WA) and upgrades to Bathurst Airport (NSW).
Media Release: $95 million funding boost for regional tourism
Environmental Goods Agreement (EGA) progress is welcome news
WTO DG AzevÃªdo has welcomed a statement from Minister Robb, the EGA chair, on the considerable progress of the EGA negotiations. Minister Robb's statement also highlighted a high degree of convergence in many areas of the negotiations. Negotiators will re-engage in 2016 to continue to work towards a conclusion.
Demystifying Korea for Australian services exporters
The Export Council of Australia's new research report, Demystifying Korea, explores the Korea-Australia Free Trade Agreement (KAFTA). The report helps Australian services exporters identify opportunities and understand challenges that they may face in the Korean services sector.
Australia named 'Destination of the Year'
One of America's leading travel publications, Condé Nast Traveler, has named Australia 'Destination of the Year'. The magazine's 'Gold List' January 2016 issue will feature more than 20 pages on Australia and its food and wine, fashion and style influencers, hitting a total readership of 2.3m.
Tourism Australia: Australia named 'Destination of the Year' by Conde Nast Traveler
Did you know…
Australia's Christmas trees will be decked out this year with $7.7m worth of Christmas tree lighting sets imported in 2014-15.
Upcoming Trade Events
Inaugural Australia-US Business week
Minister Robb will lead an Australian business delegation for a series of high level trade, investment and tourism events in the US in 2016. The inaugural Australia-US Business week is a major initiative to increase Australia's business links with the world's largest economy. Businesses can register interest online.
Register interest: Business Missions EOI
Trade Articles sourced from non-Australian Government sources do not necessarily reflect the views of the Australian Government.