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Trade talk 20 November 2014

Landmark China-Australia Free Trade Agreement (ChAFTA)

Australia and China announced the conclusion of negotiations of ChAFTA at Parliament House on Monday. On full implementation, 95% of all Australian goods exports to China will be tariff-free. ChAFTA also secured unprecedented access to China's services market and outcomes to boost investment.

TIM Media Release: Landmark China-Australia Free Trade Agreement

TIM YouTube: Australia's North Asia FTAs

Brisbane G20 Leaders' Summit concludes

Australia hosted the G20 Leaders' Summit in Brisbane on 15-16 November 2014. The Summit delivered concrete outcomes across its three themes of growth and jobs, economic resilience and strengthening global institutions. The reforms from the Summit are expected to lift G20 GDP by 2.1% by 2018.

G20 Communiqué: G20 Leaders' Communiqué

OECD to help monitor G20 growth and gender commitments

G20 Leaders have called on the OECD and IMF to monitor their commitment to boost economic growth and create jobs. Leaders agreed to reduce the gap in labour force participation rates between men and women by 25% by 2025.

PM Media Release: G20 leaders agree to reduce gender employment gap

OECD News: G20: OECD to help monitor growth and gender commitments

India and US clinch deal to overcome WTO Trade Facilitation Agreement impasse

Trade and Investment Minister Andrew Robb welcomed news the United States and India had reached an agreement to unblock implementation of the WTO Agreement on Trade Facilitation (TFA). The TFA, agreed in Bali in 2013, is forecast to create 21 million jobs worldwide.

TIM Media Release: Minister welcomes WTO breakthrough

ICTSD: India, US Clinch Deal on WTO Food Stocks, Trade Facilitation Impasse

Growing demand for Australian produce overseas

As US supermarket chain Costco opens its 7th Australian store this week, more Australian produce is being sold in Costco stores internationally. Costco is the largest seller of Australian lamb globally and sells large quantities of Australian fruit and vegetables, including oranges in the United States.

ABC News: Bulk retailer Costco sees potential growth in demand for Australia produce in international outlets

British Prime Minister encourages Australian investment in Britain

In Australia for the G20 Summit, British PM David Cameron encouraged continued Australian investment in Britain. "We recognise that building our country requires investment from overseas and we welcome it", said Mr Cameron.

ABC News: British PM David Cameron addresses Sydney business breakfast, promotes investment in UK

Australia committed to securing access to global government procurement markets

Trade Minister Robb announced last week that the Government would work towards joining the WTO Agreement on Government Procurement (GPA). Membership of the GPA would secure access for Australian exporters to the multi-million dollar government procurement markets of 45 economies.

TIM Media Release:Government sets its sights on new trade deal

DFAT: Australian accession: WTO Agreement on Government Procurement

Did you know?

The 2013 exports of Australian iron ore to China could have built the Beijing-Shanghai bullet train line (rails, pylons, bridges, stations) nearly 45 times!

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

Last Updated: 20 November 2014
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