Trade Talk, 26 March 2015
Register for Free Trade Agreement Seminars
Businesses are invited to register for the next Free Trade Agreement (FTA) seminars in Frankston, Vic and Queanbeyan, NSW in early April. The seminars will highlight how Australian businesses can take advantage of the North Asia FTAs. Future seminars will be held in metropolitan and regional areas across Australia.
Dairy industry associations support the Trans-Pacific Partnership Agreement (TPP)
The Australian, New Zealand and United States dairy industry associations are supportive of an ambitious and comprehensive TPP. The industry associations are advocating for an agreement that will help to ensure consumers in the Asia-Pacific have access to safe, high quality and affordable dairy products.
TPP Chief Negotiators meet in Hawaii
TPP Chief Negotiators met in Hawaii from 9 to 15 March 2015 and made positive progress on market access negotiations, disciplines on state-owned enterprises, intellectual property and rules of origin. Over the coming weeks negotiators will continue working to resolve outstanding issues in the negotiations.
DFAT News: TPP Meetings, March 2015
Report finds huge potential in China agricultural trade, as resources boom slows
A report into trade between Australia and China has found as the resources boom slows, there is potential to increase trade in other sectors. The report found exports of agricultural products to China rose sharply over the past 5 years, with China the largest market for Australian agricultural products.
Trade Minister travels to Hong Kong to promote trade, investment and tourism linkages
Trade and Investment Minister Andrew Robb is in Hong Kong to advance trade, investment and tourism linkages. Australia's two-way trade with Hong Kong is worth over $8 billion and two-way investment is worth $81 billion, with great potential for future growth.
Australian Services in hot demand in Asia-Pacific region
Australian company Lend Lease is partnering with the Malaysian government to develop a new financial and business hub in Kuala Lumpur. The partnership reflects the opportunities in the Asia-Pacific region for Australian services companies. Australia's services exports rose more than 7% in 2014.
How dependent are Australian exports on China?
Since 2009, China has been Australia's most important export market. Not since the UK in the 1950s has a single export market had such an impact on Australia. This article by Austrade's Chief Economist presents a detailed assessment of Australia's exports to China.
IBM opens second Australian cloud centre
Following the success of its first Australian cloud centre launched in 2014, IBM has launched a second cloud computing centre. Australia's location, stable legal and political environment, and global reputation as an innovative country make it ideal as a cloud product testing and investment destination.
AzevÃªdo praises trade program for poorest countries
WTO DG AzevÃªdo highlighted the success of the Enhanced Integrated Framework (EIF) in a recent speech at the WTO. The EIF helps Least Developed Countries play a bigger role in the global trading system. "We can take pride in the fact that the EIF is becoming more effective and more adaptable", said Mr AzevÃªdo.
PNG's natural gas exports to boost Pacific growth in 2015
An increase of Papua New Guinea's natural gas exports is expected to push the Pacific region's average GDP growth to 10.7% this year, says a new Asian Development Bank report. The report notes that most Pacific economies are expected to perform better due to favourable domestic and external conditions.
Visualising global trade data with the World Bank
The World Bank has developed a new interactive tool to visualise trade data. The tool displays export and import data in an eye-catching manner for over 200 economies, including Australia.
World Bank Blog: Picture Trade: How to be a wiz at WITS trade data visualizations
Did you know?
According to OECD data, Australia's legal and air transport sectors are the least trade restrictive of all OECD and BRIC countries. Transport and legal services account for 12% of all Australia's services exports, valued at $7.1 billion in 2013-14.