Trade Talk 4 April 2019
Australia and Hong Kong sign historic trade deal
Australia and Hong Kong signed the Australia-Hong Kong Free Trade Agreement and associated Investment Agreement on 26 March 2019, securing both certainty and more opportunities for Australian farmers, businesses and investors. Once this agreement enters into force, zero tariffs will be locked-in on goods, market access will be guaranteed for services suppliers, and conditions for two-way investment will be significantly improved.
Export Market Development Grant scheme gets funding boost
The Australian Government has announced an additional $60 million in funding for the Export Market Development Grants (EMDG) scheme to help Australian businesses export more of their products and services to new markets around the world.
Ministerial meeting with Singapore
At the 11th meeting of the Singapore-Australia Joint Ministerial Committee in Sydney, foreign affairs, defence and trade ministers from both countries welcomed the entry into force of the Agreement to Amend the Singapore-Australia Free Trade Agreement in December 2017, and progress towards mutual recognition arrangements for accountants and engineers.
Sustained progress at the third round of negotiations on the Australia-European Union FTA
The third round of negotiations on the Australia- European Union Free Trade Agreement was held in Canberra on 25-29 March in a constructive atmosphere. Negotiators narrowed differences on text across the board and continued to work hard towards the shared goal of delivering ambitious outcomes for exporters, small business and consumers.
Positioning Australia as a critical minerals powerhouse
A Critical Minerals Strategy 2019 released last week maps out a vision for Australia as a world leader in the exploration, extraction, production and processing of critical minerals. An Australian Critical Minerals Investment Prospectus will provide detailed technical, commercial and geological data on the 24 critical minerals identified in the strategy. The Prospectus will be published on the Austrade website.
International tourism to Australia at record high
The latest International Visitor Survey shows a record 8.5 million overseas visitors (aged 15 years and over) spent $44 billion in 2018. China remained our top market by visitors and spend, while India continued to be our fastest growing market with arrivals up 18 per cent to 336,000, and total trip spend up 21 per cent to $1.7 billion.
Secretary's Strategic Dialogue with business
The Strategic Dialogue with business on foreign affairs and security issues provides an opportunity for leaders in business to engage in a frank exchange of views with DFAT Secretary Frances Adamson on how geo-political and security issues affect businesses' strategic decision making. The Secretary will host a series of dialogues around Australia throughout the year. Email us for more information:
Strengthening the future of the Australia-China relationship
The Australian Government will establish a new and innovative National Foundation for Australia-China Relations, which will harness the efforts of the private sector, peak bodies, NGOs, cultural organisations, state and federal agencies and the Chinese-Australian community.
Ambassador to China
Minister for Foreign Affairs, Marise Payne, has announced the appointment of Mr Graham Fletcher as Australia's next Ambassador to China. Mr Fletcher is a senior career officer with DFAT and was most recently First Assistant Secretary, North Asia Division.
Your experience helps us understand how a changing international environment affects your business
Share your valuable international business experience in the sixth annual Australia's International Business Survey (AIBS) and help us understand how a changing international environment affects your business. The AIBS Survey is one of the largest studies of its kind into Australia's international business behaviour.
Beyond Brexit: how can Australia better engage Europe?
Authors Tim Harcourt and Natanael Bloch argue Australia should forge stronger ties with the European Union and that the Australia-EU free trade agreement will contribute to this outcome. They point to research by DHL that Europe tops the list as the most desirable new destination for 17 percent of Australian exporters.
OECD: trade in fake goods is now 3.3% of world trade and rising
Trade in counterfeit and pirated goods has risen steadily in the last few years and now stands at 3.3 per cent of global trade, according to a new report by the OECD and the EU's Intellectual Property Office. Countries most affected by counterfeiting in 2016 were the United States followed by France, Italy, Switzerland and Germany.
Did You Know?
The 425,000 increase in tourists visiting Australia in 2018 is equivalent to an additional 1000 jumbo jets arriving.
Free Trade Agreements Information Seminars
Geelong, VIC, 10 April; McLaren Vale, SA, 12 April 2019
These seminars are interactive sessions, where you'll have the opportunity to hear directly from government and industry experts on the practical benefits of exporting and how to take advantage of Australia's FTAs, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
Trade Mission: Urban Development & Smart Cities: India May 2019
Global Victoria will lead an urban development trade mission to the India Smart Cities Conference and Expo – a multi-disciplinary event covering urban services, buildings, water, transport and energy sector opportunities from 19 to 24 May 2019.