Trade Talk, 24 March 2016
Indonesia-Australia Comprehensive Economic Partnership Agreement
Negotiations towards an FTA with Indonesia are back on the agenda following publication last week of a Joint Statement of Intention by Minister Ciobo and his Indonesian counterpart Mr Thomas Lembong. Australian and Indonesian businesses will have the opportunity to inform negotiations through the reactivated Indonesia-Australia Business Partnership Group.
New FTA Portal empowering Australian exporters
Small and medium enterprises looking to export are the big winners from a new FTA Portal launched by Minister Ciobo this week. By providing a comprehensive tariff finder and step-by-step rules of origin guide, combined with certification and import market information, the Portal is helping Australian exporters take full advantage of free trade agreements with the north Asian powerhouse economies of China, Japan and South Korea.
Joint Communique of the Ninth Singapore-Australia Ministerial Committee (SAJMC)
Ministers from Singapore and Australia met in Sydney last week, reaffirming the shared vision for a stronger bilateral relationship. Trade and economic cooperation were high on the agenda, with Ministers welcoming progress in the third review of the Singapore-Australia FTA, and noting the breadth of emerging business opportunities in Northern Australia and increasing tourism cooperation.
Promoting Australia's economic links: Bo'ao Forum for Asia
Senator Colbeck has been promoting Australian business interests in China this week, as Australia's representative at the Bo'ao Forum for Asia in Hainan. Mr Colbeck met with senior Asian leaders and representatives across government, business and academia, enhancing Australia's strong economic relationship with the region and promoting tourism and education.
Trade liberalisation and reform on the agenda in 2016
In the March edition of business envoy DFAT Acting Deputy Secretary Justin Brown examines the department's trade and investment priorities for 2016. New FTA negotiations and increasing business utilisation of existing FTAs remain front and centre, flanked by promoting Australia as an investment destination, continued work to strengthen the multilateral system through the WTO, and contributing to ongoing domestic processes that will build a high performing domestic economy.
Chinese economic changes
A new study by the Asian Development Bank examines the slowdown in China's economic growth, broadly attributing it to demographic change and a shift away from manufacturing and towards a services and consumption-based economy. Also highlighted are the opportunities arising for other Asian economies to increase market share or enter global production chains as China loses competitive advantage and production shifts to lower cost economies.
Australian chilled beef gains foothold in digital China
An Australian beef exporter is taking advantage of China's digitally-connected urban populations to open up a new frontier for Australian chilled beef – selling fresh meat online through an innovative partnership with JD.com – China's largest online direct sales company. While getting the offering just right for an evolving market made this a high stakes undertaking, China's large and expanding online marketplace more than justifies the investment made in carving out a niche for Australian chilled beef.
Did you know…
Australia exported 35,301 tonnes of chocolate worth almost $224 million in 2015 – the equivalent of more than 900 million crème-filled Easter eggs!
Upcoming Trade Events
North Asia Free Trade Agreements Information Seminars: NSW |VIC
31 March | 14 April 2016
If you are a current or prospective exporter don't miss these free, interactive sessions which explain practical benefits your business could realise from Australia's historic FTAs with three of our largest export markets – China, Japan and Korea. Visit Austrade's website for registration, further details and future seminar dates.
Australia Week in China 2016
11-15 April 2016
Australia Week in China 2016 will consist of trade, investment, education and tourism promotion events designed to highlight the commercial opportunities available in China. The program will feature trade and investment seminars, roundtables, site visits, product showcases and networking opportunities with Chinese business, industry and government.