Trade Talk 28 September 2017
Trade talks in Indonesia
Minister for Trade, Tourism and Investment Steven Ciobo and Indonesian Trade Minister Enggartiasto Lukita agreed to implement tariff reductions on sugar, herbicides and pesticides last week, opening the way to increased trade and reflecting their shared ambition for the Indonesia-Australia Comprehensive Economic Partnership Agreement. "President Widodo and Prime Minister Turnbull are determined to conclude IA-CEPA this year, and we are doing all we can to make that happen," Minister Lukita said.
Media release: Indonesia and Australia reduce tariffs on key commodities
Statement on the 15th Joint Ministerial Economic Commission with China
China's Minister of Commerce Zhong Shan hosted Minister Ciobo for the 15th Joint Ministerial Economic Commission in Beijing. Ministers discussed the bilateral trade relationship, including the high utilisation rate of the China-Australia Free Trade Agreement, and signed a Memorandum of Understanding on E-commerce Cooperation.
First of its kind report eyes $51 billion China online education market
Minister Ciobo launched a guide for Australian businesses interested in entering China's kindergarten to year 12 online market. The publication, titled 'Online Education and Edtech Opportunities in China' provides an overview of China's online education sector and advice on potential market entry strategies.
Holidaying at home brings in record spend
The latest National Visitor Survey reveals Australian tourists spent a record $62.6bn holidaying at home for the year ending June 2017, up 7% on the previous year. This strong result comes two weeks after the International Visitor Survey showed international tourists spent a record $40.6bn over the same period. Tasmania recorded the highest growth in overnight trips by domestic tourists, up 16%, as well as the largest growth in their spending, up 30% to $2.4bn.
Media release: Tourism growth continues as spending exceeds $103 billion
METS delegation travels to Gulf region
Assistant Minister for Trade, Tourism and Investment, Keith Pitt is leading a Mining Equipment, Technology and Services sector business delegation to meet senior government and business community leaders in Saudi Arabia and the United Arab Emirates. Minister Pitt will also advocate for the resumption of free trade agreement negotiations with the Gulf Cooperation Council.
Media Release: Australian business delegation to Gulf region targets METS
Visit to Papua New Guinea to meet new Ministers and boost ties
Assistant Minister Pitt met the new Papua New Guinea Government in Port Moresby, in particular to discuss its preparations to host APEC 2018, the largest event ever to be held in the country, and also agriculture and tourism relations. Minister Pitt also launched a handicraft video and vendor guide produced by Australia's Pacific Horticulture and Agriculture Market Access Program to support increased trade within PNG's tourism industry.
Media release: Visit to Papua New Guinea to boost bilateral ties
A strategy for economic engagement with India out to 2035
Interested members of the public are invited to submit ideas on the kind of economic partnership Australia should aim to have with India and how to strengthen commercial engagement. The India Economic Strategy will provide practical recommendations to unlock the opportunities that will help Australia and India grow together through to 2035. Submissions will close on 13 October.
Media release: Public submissions to the India Economic Strategy open
Free export market regulation update service
The WTO is reviewing its free online web service called 'ePing' that provides up to date information on regulations in export markets around the world, including product requirements and standards. Please send feedback on how it functions and ideas on new features to email@example.com.
ECA Media Release: Do you export Goods? Then you need e-Ping!
The next chapter in Australia's economic story
Reserve Bank Governor Philip Lowe discusses the end of one chapter in Australia's economic history and explains why he is optimistic about how the next chapter might unfold. Australia's strong institutional and policy framework, flexible economy with a demonstrated capacity to adjust to a changing world and links to Asia, the fastest growing part of the global economy, are some reasons to have confidence about the future.
Speech: The Next Chapter
Did You Know?
Indonesia is one of the world's faster growing economies and is projected to be the world's fourth largest economy by 2050.
Upcoming Trade Events
APRC Briefing with Minister Cormann
Perth, WA, 29 September 2017
Join Austrade and Ernst & Young for a briefing on the Asia-Pacific Regional Conference taking place on 3-5 November 2017 in Perth with Minister for Finance Mathias Cormann. The APRC will bring together up to 1000 delegates to hear from business and political leaders about future opportunities in areas such as digitisation and innovation.
North Asia FTA Training Session - Selling your goods to Japan/Korea
Melbourne, VIC, 4 October 2017
This Victoria Chamber of Commerce and Industry intensive course for SMEs will focus on understanding Australia's Free Trade Agreements (FTAs) with Japan and South Korea and how to take advantage of preferential tariff treatment. This training session is for beginners and experienced exporters alike.
Introduction to JAEPA / Tax Considerations Specific to the Japanese Market
Live webinar, 6 October 2017
This free Freight & Trade Alliance webinar will cover areas of opportunity under the Japan-Australia Economic Partnership Agreement, including how to use the Agreement, and explain tax considerations specific to the Japanese market. Recordings of previous events, including on the China-Australia FTA, are also available online.
International aid: business opportunities
Melbourne, VIC, 10 October 2017
The event is organised by the Victorian Government, Austrade, the World Bank and the Asian Development Bank and will provide insights into how businesses can access international aid opportunities. Topics for discussion include ADB strategic directions to 2030, future trends and requirements, procurement processes and how to prepare a successful bid.