Trade Talk, 4 February 2016
Trans-Pacific Partnership Agreement (TPP)
Trade and Investment Minister Robb signed the historic TPP trade deal on 4 February in Auckland, New Zealand. It is the most significant trade and investment deal concluded in over 20 years between 12 countries, accounting for nearly 40% of global GDP in the fast growing and dynamic Asia-Pacific region.
TPP Countries' Trade Ministers' joint statement
On 4 February, Trade Ministers from Australia and 11 other countries issued a joint statement welcoming the TPP as an agreement that sets a new standard for trade and investment in one of the world's fastest growing and most dynamic regions. They noted signatory countries comprise a market of more than 800 million people.
Robb to lead Australia Week in China Business Mission
Minister Robb will be leading what is expected to be Australia's largest trade mission to China, from the 11-15 April, as part of Australia Week in China (AWIC) 2016. The program will highlight benefits from the China-Australia FTA and help participants to understand the changes taking place in Australia's number-one export market.
Call for tourism and education leaders to join Australia Week in China 2016
Registrations are open for tourism and education industry leaders with significant interest in the Chinese market to join AWIC 2016. AWIC provides the opportunity to build trade and investment links with Australia's fastest growing major tourism market and largest international student source market.
Singapore Australia Comprehensive Strategic Partnership (CSP)
After last week's trip to Singapore, Minister Robb stated there will be an active focus to advance the CSP and build upon Australia's unique relationship with Singapore, especially on defence and trade. In March, Mr Robb will host his CSP Ministerial counterpart, Foreign Minister Balakrishnan, for a bilateral meeting. The Ministers will also participate in a 3+3 Australia-Singapore Ministerial meeting on 18 March in Sydney.
DFAT grants to support international business networks
Grants of $10,000 to $40,000 are available to assist national and regional umbrella business associations wishing to progress working relationships with equivalent bodies overseas, particularly where these will progress Australian engagement under FTAs. Countries involved are China, India, Indonesia, Japan, Korea and the countries of South East Asia, Latin America and the Arab World.
Why invest in Australia? 2016 Australia Benchmark Report
Austrade's 2016 Why Australia: Benchmark Report has been released, highlighting 5 key reasons for investing in Australia including growth, innovation, talent, location and business. The report shows that Australia is entering its 25th consecutive year of economic growth and provides snapshots of Australia's globally significant industries.
APEC cuts environmental goods tariffs
APEC's 21 member economies have recently put forward plans for implementing tariff cuts on a list of 54 environmentally friendly goods which will help boost trade and improve access to the tools needed to fight climate change. These tariff reductions are expected to promote trade worth around USD$300b within the region and USD$500b worldwide.
Tourism Australia and Air India commence pre-summer promotion
Tourist numbers from India are expected to increase with a special fare promotion from Air India, in partnership with Tourism Australia, for its daily non-stop service between New Delhi and Sydney and Melbourne. India is currently our 8th largest inbound visitor market by arrivals with 230,000 arrivals for the year ending November 2015.
Did you know…
Australia's services exports to TPP countries were worth $21b in 2014-15, almost 34% of our total services exports.
Upcoming trade events
Inaugural Australia-US Business week
Minister Robb will lead an Australian business delegation for a series of high level trade, investment and tourism events in 2016. The inaugural Australia-US Business week is a major initiative to increase Australia's business links with the world's largest economy. Businesses can register interest online.
Trade policy workshops: Advancing trade development in Australia
These practical one day workshops by the Australian Institute of Export coordinate the industry's voice on key issues affecting trade in order to facilitate positive outcomes for exporters and importers. The workshops cover topics such as trade policy and the WTO, advancing trade development and trade promotion and improving trade facilitation.
Trade Articles sourced from non-Australian Government sources do not necessarily reflect the views of the Australian Government.