Trade Talk 26 April 2013
26 April 2013
Australia and TPP partners welcome Japan to the negotiating table
The existing 11 members, including Australia, have invited Japan to join negotiations for the Trans-Pacific Partnership (TPP). Japan's addition takes the TPP countries' share of world GDP to nearly 40%, accounting for approximately 35% of Australia's two-way trade.
Press release: Australia welcomes Japan to TPP negotiations
APEC Trade Ministers highlight multilateral trade, Bogor goals and more
Ministers from APEC's 21 member economies highlighted their support for the multilateral trading system, pursuing the Bogor goals, sustainable growth with equity and promoting connectivity at the Surabaya APEC Trade Minister's Meeting over the weekend.
Press release: APEC Trade Ministers issue Statement
The WTO examines the future of trade
A 12 member panel, convened by the WTO, has produced a report on the future of trade which emphasises the importance of "convergence" as a tool to promote trade.
Report: Slower trade growth in APEC region
The APEC Policy Support Unit has released a report on trade and investment developments in the APEC region. The report examines the slowdown in trade growth and FDI inflows in 2012, attributing this, in part, to slower global economic growth. The report also analyses trade restricting measures implemented since the Global Financial Crisis, advising that collective action to reduce protectionism is required to promote global trade growth.
'Opening the services sector offers big gains', say APEC officials
Senior APEC officials have examined the benefits of opening up the service sector and have found that gains from the liberalisation of the service sector are almost twice as big as the gains from the liberalisation of merchandise trade.
Press Release: Gains to be had by liberalising the service sector
Lamy pushes for a more prominent role for trade and economic growth
WTO Director, Pascal Lamy, has outlined how the WTO will continue to work towards securing a more central role for trade and economic growth in a speech to the World Bank Development Committee.
Did you know?
Getting out the welcome wagon
As Australia welcomes Japan to the TPP negotiating table, Japan has been welcoming Australian exports. Australian merchandise exports to Japan have grown at an annual rate of 6.3% over the past 5 years.