Trade Talk, 25 September 2014
Trade Talk brings you a selection of the latest trade news from Australia and the world.
25 September 2014
Inaugural Ministerial Statement on Investment
Trade and Investment Minister Robb made his inaugural annual Ministerial Statement on Investment on 23 September 2014, emphasising that foreign capital is vital to the maintenance of sustainable economic growth and creation of additional jobs.
Trade Minister: Ministerial Statement on Investment
AzevÃªdo warns of 'freezing effect' from Bali package impasse
WTO DG Roberto AzevÃªdo says the Bali package that delivered big gains for WTO members "is now at risk". He said "the future is uncertain", and if not resolved "many areas of our work may suffer a freezing effect, including the areas of greatest interest to developing countries, such as agriculture".
G20 Ministers and Bank Governors deliver growth strategies
G20 Finance Ministers and Central Bank Governors met in Cairns on 20-21 September and announced strategies to achieve 1.8 per cent of additional growth across the global economy. This translates to 90 per cent of our G20 2 per cent growth ambition.
Treasurer Media Release: G20 Finance Ministers and Central Bank Governors Meeting
G20 Finance Ministers to ensure companies pay fair share of tax
G20 Finance Ministers have agreed to tackle base erosion and profit shifting. They have also agreed to increase transparency and focus on tax evasion. G20 members are half-way through a two year program to update international tax rules. Australia is working to implement new reporting standards in 2017.
Treasurer Media Release: Global leaders to tackle profit shifting and tax evasion
OECD launches Base Erosion and Profit Shifting recommendations
The OECD released its first recommendations for a coordinated international approach to combat tax avoidance by multinational enterprises. These recommendations aim to end the erosion of tax bases and the artificial shifting of profits to jurisdictions to avoid paying tax.
OECD: BEPS 2014 Deliverables
Bega Cheese to stand out in Chinese market
Bega Cheese signed a $100 million 5 year deal to supply long life milk to Chinese company Chongqing General Trading Group (CGTG). CGTG has a 50 per cent share of the food and general merchandise market in Chongqing, south-west China, a region with a population of around 30 million.
Best Destination award goes to… Tourism Australia
Tourism Australia has been voted the 'best destination' marketeer at the annual World Routes awards. Minister Robb said Australia's national tourism organisation was recognised for its successful collaborative approach to global aviation development. Tourism is a national investment priority.
DFAT News: Tourism Australia wins top global
Australia-China Council calls for nominations for excellence in entrepreneurship
The Australia-China Council is calling for nominations of Australian organisations and individuals advancing Australia-China relations in the fields of entrepreneurship, education and the arts. Nominations must be submitted by 10am, 6 October 2014.
Did you know?
In 2013 Australia attracted $115 billion of new foreign direct investment. At 31 December 2013, the total amount (or stock) of direct investment in Australia reached A$630 billion. This is over 40 per cent higher than in 31 December 2008.
Trade articles sourced from non-Australian Government sources do not necessarily reflect the views of the Australian Government.