Trade Talk, 27 April 2017
Australia-Hong Kong FTA
The Government is taking the first steps toward a free trade agreement with Hong Kong, Minister for Trade, Tourism and Investment Steven Ciobo said, announcing a call for public submissions on the prospective FTA this week. More than 600 Australian businesses have a major presence in Hong Kong and it is Australia's eighth largest export market, worth $11 billion in 2015-16.
Visit to Australia's two largest Middle East trade and investment partners
Minister Ciobo visited the United Arab Emirates and Saudi Arabia this week, Australia's two largest trade and investment partners in the Middle East. In Saudi Arabia he was accompanied by a business delegation comprising resources, financial services and defence export representatives. Minister Ciobo also undertook advocacy for the resumption of FTA negotiations with the Gulf Cooperation Council during the visit.
Japan FTA – positive trends in business take up
The second meeting of the Japan-Australia Economic Partnership Agreement Joint Committee was held in Tokyo on 19 April. Senior official co-chairs reported to Minister Ciobo and Japan's State Minister for Foreign Affairs, Nobuo Kishi, on the outcomes including a strong assessment of business uptake to date and future work plans.
Australia and China agree to cooperate on cyber security
Australia and China have agreed not to conduct or support cyber-enabled theft of intellectual property, trade secrets or confidential business information with the intent of obtaining competitive advantage last week. The agreement was announced following a meeting between Prime Minister Malcolm Turnbull, Foreign Minister Julie Bishop and Meng Jianzhu, Secretary of the Chinese Communist Party's Central Commission for Political and Legal Affairs in Sydney.
Trade has made Australia more prosperous
A number of peak Australian business organisations have joined together to launch a fact sheet demonstrating the ways trade has made Australia more prosperous. The 10 Facts About Australian Trade fact sheet outlines benefits such as the average Australian family being up to $3900 better off each year as a result of trade and 2.7 million Australian jobs relying on trade.
Australia's International Business Survey
Building on the last three years of AIBS survey results, AIBS 2017 will build our understanding of the international activities of Australian companies with a specific focus on current international business activities and markets, future business outlook, experience with FTAs and access to finance. The survey takes approximately 15-20 minutes to complete. Export Council of Australia is offering an incentive for Australian companies that complete the AIBS survey.
Trade Talk goes fortnightly
This e-newsletter will now be produced fortnightly.
Did You Know?
Hong Kong is our sixth largest source of foreign investment, with a stock of $85.4 billion at the end of 2015, and the eighth largest destination for Australian investment, with a stock of $50.7 billion at the end of 2015.
Upcoming Trade Events
ChAFTA Training Program
Logan, QLD, 28 April; Canberra/Queanbeyan, ACT/NSW, 2 May
With the help of a FTA Training Provider Grant, the Australia China Business Council and the Export Council of Australia are conducting a ChAFTA Training Program to train businesses on how to utilise ChAFTA and reap the benefits of a deeper engagement with China.
Free Trade Agreements Information Seminars, Various Locations
Kadina, SA, 1 May; Port Lincoln, SA, 2 May; Mt Gambier, SA, 3 May; Murray Bridge, SA, 4 May; Mackay, QLD, 12 May
Don't miss these free interactive sessions to find out how you can take advantage of Australia's FTAs with China, Japan and Korea, with a keynote address by Assistant Minister for Trade, Tourism and Investment, Keith Pitt at Mt Gambier, Murray Bridge and Mackay. Senator Anne Ruston, Assistant Minister for Agriculture and Water Resources, will be the keynote speaker at the Port Lincoln event. Trade experts and specialists from Austrade, DFAT, Efic, AusIndustry and others will also be on hand to answer your questions.
North Asia Free Trade Agreement Workshop
Midland, WA, 9 May
With the help of a FTA Training Provider Grant, the Chamber of Commerce and Industry of WA is offering this course on how West Australian businesses can use the China, Japan and Korean FTAs to improve their global competitiveness, gain significant price advantages on both imported and exported goods and receive preferential market access.
Speed Networking for International Business – India
Melbourne, VIC, 9 May
This Export Council of Australia speed networking event will provide an opportunity to meet a range of experts in banking, freight forwarding and insurance, among others, who can help you along your export journey to India.
Latin American Infrastructure Forum 2017
Melbourne, VIC, 23 May
This Australia-Latin America Business Council initiative, with the backing of the Government of Victoria and the Council on Australia Latin America Relations, will focus on the infrastructure developments taking place across the Latin American region. Presentations, panel discussions and one-on-one meetings will cover topics including the pipeline of projects on offer, strategies for accessing them and what needs to be considered when investing or participating in projects in the region.
North Asia Free Trade Agreements Tailored Training Sessions
Various Providers and Locations
Interested in tailored training to assist your small to medium-sized enterprise move beyond general FTA awareness and gain the direct technical knowledge required to access and utilise the North Asia FTAs? Over 100 external technical FTA training sessions will be delivered by FTA Training Provider Grant recipients this year, see the list of events at Austrade's FTA Seminars website linked below.