Trade Talk 28 November 2013
28 November 2013
Australia-New Zealand Closer Economic Relations (CER) marks 30 years
Trade Minister Andrew Robb and his NZ counterpart held the annual CER meeting in Sydney yesterday. This year marks the 30th anniversary of one of the world's most comprehensive and effective free trade agreements. NZ is Australia's seventh-largest two-way trading partner, with trade at $21.2 billion in 2012.
TM Media Release: Australia-New Zealand Closer Economic Relations (CER) Meeting
Australia renews support for PACER Plus trade negotiations
The Australian government will provide $1.8 million to help Pacific Forum Island countries participating in the Pacific Agreement on Closer Economic Relations (PACER) Plus trade negotiations with Australia and New Zealand. The funding comes as negotiations for PACER Plus are held in Auckland this week.
FM and TM Joint Media Release: Australia renews support for PACER Plus trade negotiations
2013 Australian Export Award winners announced
The 12 winners of the Australian Export Awards were announced on Tuesday at the National Gallery of Victoria. The winners were selected from 76 finalists who together generated export earnings of A$9 billion in 2012-13 and employed 22,000 people.
TPP chief negotiators resolve a number of outstanding issues
TPP chief negotiators have reported significant progress after six days of meetings in Salt Lake City, USA. Negotiators resolved a number of outstanding issues including in intellectual property, investment, market access and more ahead of a ministerial meeting in Singapore in early December.
DFAT News Article: TPP Meetings 19-24 November 2013, Salt Lake City (click on the "News" tab)
WTO comes close to agreed texts before Bali
The WTO DG has told the last General Council meeting before the 9th Ministerial Conference in Bali that members have come "very close to fully agreed texts" but final agreement remains elusive. Members will now go to Bali without finalised texts.
APEC meeting seeks to further energy trade and investment
Strengthening energy efficiency and promoting low-carbon energy supply was the focus of a gathering of APEC officials that concluded on 21 November in Vietnam. "We seek to further the APEC goals of facilitating energy trade and investment" said the director of Vietnam's General Directorate of Energy.
APEC News Release: APEC strives to raise energy efficiency, cut emissions
China's FDI inflows and outflows continue steady growth
China's Foreign Direct Investment (FDI) inflows are up 5.8% to October 2013 with inflows from Asia, the EU and US growing strongly. China's outbound direct investment from non-financial firms increased 20% to October 2013 with 90% of total outbound investment going to five industries, including mining.
Reuters Article: China foreign investment keeps steady growth in January – October
Did you know?
Export share… In 2012 Australia exported US$311 billion in goods and services – 1.4% of total world exports. Australia's largest export, iron ores and concentrates, was valued at US$56.7 billion – that's approximately 47% of the world's trade in iron ore (according to UN statistics).