Trade Talk, 4 August 2016
Indonesia-Australia Comprehensive Economic Partnership Agreement
Momentum for concluding a free trade agreement with Indonesia continues to build as Minister Ciobo visits Jakarta to help facilitate stronger trade and economic ties. IA-CEPA presents significant opportunities for Australian businesses, primary producers and service providers with Indonesia, a country that has a population of more than 255 million – including a middle class of more than 45 million.
Indonesia-Australia Business Partnership Group
An early outcome of the IA-CEPA is the reactivation of the Indonesia-Australia Business Partnership Group. The IA-BPG represents Indonesian and Australian business groups who have come together to share views of the potential significant commercial, trade and economic benefits IA-CEPA, Minister Ciobo said.
A new partnership between Tourism Australia and Qantas
Australia's tourism industry is set to benefit from a new $20m Tourism Australia and Qantas partnership. The three year deal will see both parties promoting international travel to Australia with a focus on Asia, the United States and the United Kingdom. Last year the tourism industry contributed $47.5b to GDP. The industry is currently growing three times faster than the rest of the Australian economy and directly supports more than 580,000 Australian jobs.
President Obama and Prime Minister Lee re-affirm support for the TPP
US President Barack Obama and Singaporean Prime Minister Lee Hsien Loong reaffirmed their commitment to the Trans-Pacific Partnership, including its ratification at a joint press conference in Washington DC. Both leaders emphasised the TPP's trade and economic benefits, as well as its broader strategic significance. The 12-nation TPP involves the US, Singapore, Australia, New Zealand, Japan, Canada, Brunei, Chile, Malaysia, Mexico, Peru and Vietnam.
China Southern plans Adelaide Guangzhou flights
An in principle deal between the South Australian Government and China Southern airlines could see a direct flight service between Adelaide and Guangzhou, up to three times per week. The final agreement is expected to be signed later this week and anticipated to create more than 135 local jobs with flow on benefits for the South Australian hotels, restaurants and tourism operators.
Connecting to compete 2016: Trade logistics in the global economy
The capacity of developing countries to efficiently move goods and connect manufacturers and consumers with international markets is improving – albeit slowly, according to the World Bank's Logistics Performance Index. The LPI measures performance along the logistics supply chain within a country and offers international and domestic perspectives.
Did you know?
According to the UN, in 2015 Indonesia was home to over 135 million people under 30, over 101 million people aged between 30-59 and had over 21 million people aged 60+. Different story for Australia where we had over 9 million aged under 30, almost 10 million between 30-59 and around 5 million aged 60+.
Upcoming Trade Events
Know-How for Inbound Tourism Excellence program
Melbourne VIC, 9 August 2016
This program by the Australian Tourism Export Council helps businesses connect with the $36.6b international tourism market. The Know-How for Inbound Tourism Excellence or KITE program prepares tourism businesses for international readiness, providing market specific insights and specialist topic webinars. Visit the registration page to search for further dates and locations.
Investing in agriculture – growing our future: ABARES Regional Outlook conference
Bunbury WA, 17 August 2016
This is a complimentary, one day conference where senior ABARES economists present the economic overview and forecasts for key agricultural commodities and farm financial performance. It covers topics such as industry opportunities and challenges, natural resource management, labour and water issues, and case studies from regional business people who are taking innovative approaches.