Trade Talk, 21 January 2016
Robb to promote Australian trade and investment at World Economic Forum
Minister Robb is in Switzerland this week participating in the annual meeting of the World Economic Forum (WEF). Minister Robb will take this opportunity to promote Australia's trade and investment interests, discussing the pursuit of innovative approaches to remove restrictions to the freer flow of trade, commerce and investment.
Exporters quick to capitalise on Japan FTA
Since the Japan-Australia Economic Partnership Agreement came into effect, Australian agricultural enterprises have made the most of substantial tariff cuts. For example, exports of fresh table grapes climbed from $0.6m to $6.5m and shelled almonds jumped from $0.4m to $4.1m, in the 10 months to October 2015.
Australia welcomes record one million visitors from China
ABS data shows that Australia's tourism industry continues to break records with Chinese visitor numbers reaching one million for the first time in the year to November 2015. Minister for Tourism and International Education, Senator Colbeck, said China is now Australia's most valuable tourism market, with Chinese visitors spending more than $7.7b annually.
Chris Hemsworth to star in Tourism Australia's new campaign
Australian actor Chris Hemsworth has been announced as the global ambassador for Tourism Australia's upcoming marketing campaign which will promote Australia's coastal and aquatic experiences. Senator Colbeck said the campaign seeks to further boost tourism, particularly from the USA, which has long been an important market for Australia.
Mongolia attracting increased interest from exporters
Austrade reports that Mongolia is attracting increased business interest as its market opportunities expand from mining to water management. While mining is still important, Mongolia's recognition of sustainable economic development presents opportunities for Australian businesses that can "offer new technology and solutions to address water management and conservation concerns."
Tourism workforce of the future in the APEC region
The APEC Secretariat is seeking proposals for the delivery of the Developing the Tourism Workforce of the Future through Labour and Skills Development, Certification and Mobility in the APEC Region project. The project seeks to explore barriers and benchmark approaches to labour mobility, career pathways, retention and access to improved training.
World output projected to grow 3.4% in 2016
In the latest World Economic Outlook Update, the International Monetary Fund has eased its forecasts for world output and trade volume growth in 2016 and 2017, however both are still projected to rise at higher rates than in 2015. Output is estimated to grow 3.4% in 2016 and 3.6% in 2017 while trade volumes are projected to grow by 3.4% and 4.1%.
Essential oil of lavender harvested in Tasmania for world market
According to the ABC, the growing demand for essential oils will soon see Essential Oils of Tasmania's lavender crop harvested, with the extracts being sold worldwide to fragrance and food markets. Company chief operations officer Derek Zwart said markets are "strong in Europe, the US and in Japan and provide a good base for further development."
Did you know…
In 2014-15, almost 16.7 million pairs of thongs were imported into Australia. That's almost enough to cover the feet of 70% of Australians this Australia Day.
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.
Trade policy workshops: Advancing trade development in Australia
These practical one day workshops by the Australian Institute of Export coordinate the industry's voice on key issues affecting trade in order to facilitate positive outcomes for exporters and importers. The workshops covers topics such as trade policy and the WTO, advancing trade development and trade promotion and improving trade facilitation.
Trade Articles sourced from non-Australian Government sources do not necessarily reflect the views of the Australian Government.