Trade Talk, 31 March 2016
Consul-General in Makassar to help build trade and investment partnership
Australia's business, education and cultural links with eastern Indonesia will deepen following the opening of the Makassar Consulate-General, by FM Julie Bishop. Eastern Indonesia is a popular destination for Australian trade and investment in the resources, agribusiness and food processing sectors and offers new opportunities including infrastructure and investment.
Returning Ambassador to the United Arab Emirates shares business and trade insights
The UAE is Australia's biggest trading partner in the Middle East. Two-way goods and services trade totalled nearly $9.3b in 2014-15, with Australian merchandise exports to the UAE growing 21% over that same period, returning Ambassador Pablo Kang said. Read more of Mr Kang's business and trade insights from post in the latest business envoy.
Demand for specialty grains in Korea opens up opportunities for Australia
Austrade highlights the growing demand for speciality grains in Korea, as consumption of Western-style bread, pasta and cakes rises. Australian grain producers should explore these export opportunities, in conjunction with tariff reductions under the Korea-Australia FTA, to assist them in establishing a position in the market.
Australia's fresh produce attracting attention in Malaysia
Australian exporters are encouraged to take advantage of this year's tariff cuts on fruit under the Malaysia-Australia FTA, as well as Malaysia's growing appetite for fresh produce. Austrade reports that a new generation of health conscious consumers means our exporters are well placed to capitalise on Australia's reputation for providing high-quality products.
Micro protection and lack of liberalisation inhibit trade growth
The Peterson Institute for International Economics analyses the stagnation of global trade in goods and services growth, the major contributors being the absence of liberalisation and increase of micro-protection. The paper illustrates estimated effects on trade if barriers were removed, including the ratification and implementation of the Trade Facilitation Agreement.
Sizzling lamb sales potential in US
Consumption of lamb is on the rise in the US, which is good news for Australian exporters. According to The Land, Australian lamb sales in the US grew by around 20% in the last five years, however with a population of around 320 million, there is still plenty of room for the market to grow.
Did you know…
It's not just Aussies who enjoy eating lamb. In 2015, Australia exported almost 250,000 tonnes of lamb worldwide, worth almost $1.8b. Top three export destinations were the US, China and the UAE.
Upcoming Trade Events
North Asia Free Trade Agreements Information Seminars: VIC | NSW
14 April | 18 April 2016
If you are a current or prospective exporter don't miss these free, interactive sessions which explain practical benefits your business could realise from Australia's historic FTAs with three of our largest export markets – China, Japan and Korea. Visit Austrade's website for registration, further details and future seminar dates.
Trade Articles sourced from non-Australian Government sources do not necessarily reflect the views of the Australian Government.