Trade Talk, 28 January 2016
Trans-Pacific Partnership Agreement (TPP) text
An English language version of the legally verified TPP text was released on 26 January 2016 which supersedes the version that was released on 5 November 2015. Trade Ministers from TPP countries will gather in Auckland New Zealand to sign the agreement on 4 February. To access the text and more TPP information, visit the DFAT website.
Robb visits Singapore to help drive new strategic partnership
Minister Robb visited Singapore this week to progress initiatives against the Australia-Singapore Comprehensive Strategic Partnership, including the early review of the Singapore-Australia FTA (SAFTA). The SAFTA review will consider enhancements to areas such as goods trade, services and investment and further strengthen bilateral trade and investment links with our 5th largest trading partner.
Australian business and trade links in the Middle East and North Africa
Senator Colbeck this week led a commercial delegation of 82 Australian firms that met with Middle Eastern counterparts in key areas of health, education, tourism and sport as part of the Australia Unlimited Middle East and North Africa 2016 (AU MENA 2016) initiative. MENA is an important export market, with two-way goods trade currently worth approximately $15b a year.
Australia's aquatic and coastal attractions showcased to the world
Tourism Australia has unveiled a new campaign focusing on Australia's aquatic and coastal attractions through new broadcast ads, print and creative material and 'virtual reality' displays at New York's Bryant Park. The campaign will help attract visitors and drive spending, with 70% of our current international visitors enjoying an aquatic and coastal experience during their visit.
Canberra goes international with new air service
Singapore airlines has announced that it will deliver new services between Singapore-Canberra-Wellington, providing a welcome boost for tourism, trade and investment in the region. In the year ending September 2015, International Visitor Survey results show Australia welcomed 334,000 visitors from Singapore and 1.2 million visitors from New Zealand.
Australian food capabilities on show in Vietnam
Vietnam's growing urban middle-class, along with its health, wellness and food and safety awareness, is presenting new opportunities for Australian food and beverage exporters. According to Austrade, local restaurants and importers are keen to access more Australian food and beverage products due to its high quality.
Trade in value-added and global value chains: Statistical profiles
The World Trade Organization has updated its statistical profiles, which show the value-added content in an economy's exports, its participation in global value chains (GVCs) and the impact of the services industry on trade. Topics on trade in intermediates, trade facilitation and foreign direct investment are also included.
Did you know…
Since SAFTA's entry in to force, Australia's exports of services to Singapore have grown almost 4% per year. The standouts are business travel, professional, technical and other business services and telecommunications, computer and information services, all more than doubling in value since the year before the agreement entered into force.
Upcoming Trade Events
Inaugural Australia-US Business week
Minister Robb will lead an Australian business delegation for a series of high level trade, investment and tourism events in the US in 2016. The inaugural Australia-US Business week is a major initiative to increase Australia's business links with the world's largest economy. Businesses can register interest online.
DFAT small grant rounds open 1st February
The Boards of DFAT's Foundations, Councils and Institutes welcome applications from umbrella business associations looking to build long term business alliances and investments with equivalent bodies in China, India, Indonesia, Japan, Korea and in the countries of South East Asia, Latin America and the Arab World. Visit the DFAT website for more information.
Trade policy workshops: Advancing trade development in Australia
These practical one day workshops by the Australian Institute of Export coordinate the industry's voice on key issues affecting trade in order to facilitate positive outcomes for exporters and importers. The workshops covers topics such as trade policy and the WTO, advancing trade development and trade promotion and improving trade facilitation.
Trade Articles sourced from non-Australian Government sources do not necessarily reflect the views of the Australian Government.