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Trade Talk, 22 January 2015

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

22 January 2015

Japan trade deal comes into effect creating new opportunities

The historic Japan-Australia Economic Partnership Agreement entered into force last Thursday, opening new market opportunities for goods, services and investment. Australian businesses are encouraged to use the step-by-step guide to exporting and importing goods under JAEPA.

TIM Media Release: Robb: Japan FTA creates a world of opportunity

DFAT Guide: Guide to using JAEPA to export and import goods

Japan trade deal: how small business can benefit

Small business is being urged to take advantage of the Japan-Australia trade agreement. "People look at an FTA, but get frightened by the paperwork and think it's only for big companies. The reality is it's not," says Andrew Hudson of the Export Council.

Canberra Times: Japan FTA: how you can benefit

DFAT Guide: Guide to using JAEPA to export and import goods

Trade and Investment Minister leads mission of 450 business leaders to India

Australia and India are on the cusp of a new dawn in their commercial relationship according to Minister Robb as he wrapped up Australian Business Week in India (ABWI). Mr Robb met with Indian Prime Minister Modi during ABWI and led a trade mission of over 450 Australian business leaders.

TIM Media Release: Robb: Australia India trade ties closer than ever

Falling oil prices: Gains for importers, opportunities for exporters

According to the Asian Development Bank, oil importing and exporting economies will be affected in a number of ways by falling oil prices. Oil importers could see 0.5% of additional GDP growth in 2015 while exporters will have an opportunity to implement reforms to strengthen other sectors of their economies.

ADB Feature: Falling Oil Prices in the Asia Pacific: Potential Gains for Importers, Opportunities for Exporters

US Trade Promotion Authority legislation and the TPP Agreement negotiations

Renewed efforts are being undertaken in the US to enact legislation known as Trade Promotion Authority (TPA). The TPA will include procedures that allow the President to submit a bill implementing a new trade agreement to Congress for a yes or no vote without amendment. Enacting TPA has implications for current US trade negotiations, including the TPP.

ICTSD News: "Fast Track" TPP Debate Set to Ramp Up as New US Congress Takes Office

Did you go on summer break? So did we! Don't worry, we've put together a selection of the best trade articles during our break to get you up to speed.

New online visa trial to increase numbers of Indian tourists

A pilot program for online lodgement of visas for Indian visitors will be rolled out through selected travel agents in India, making it easier for Indian visitors to travel to Australia. For the year ending September 2014, Indian visitors to Australia reached almost 190,000, a 14.5% increase on the previous year.

TIM Media Release: New online visa trial to increase numbers of Indian tourists

2015 Benchmark Report positions Australia as an ideal investment destination

Trade Minister Robb launched Austrade's 2015 Benchmark Report during Australian Business Week in India. The report shows Australia is entering its 24th year of uninterrupted annual economic growth. New to this year's edition is a series of charts providing snapshots of Australia's globally significant industries.

Austrade News: 2015 Benchmark Report positions Australia as an ideal investment destination

Austrade Report: Benchmark Report

Lithuania joins Eurozone

Lithuania became the 19th member of the Eurozone on 1 January, as Euro coins and banknotes came into circulation in the country. Analysts and European political leaders say the Euro will eliminate money-exchanging costs and help to develop new markets in the West.

New York Times: As Lithuania Joins Eurozone, Relief and Hesitation

WTO celebrates 20 years

The World Trade Organization celebrates its 20th anniversary in 2015. "Over the years the WTO has helped to boost trade growth, resolve numerous trade disputes and support developing countries to integrate into the trading system" said WTO DG Roberto Azevêdo "It has also provided a bulwark against protectionism".

WTO News: WTO celebrates 20 years of helping the global economy grow

Did you know?

Australian services exports to India are dominated by education (valued at $1.5 billion in 2013-14). Education exports were over 5 times greater than our second largest services export, recreational travel (valued at $286m in 2013-14).

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

Last Updated: 23 January 2015
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