Trade Talk 5 September 2014
Trade Talk brings you a selection of the latest trade news from Australia and the world.
Robb to deepen commercial ties with India
Trade Minister Robb is in India exploring avenues for greater commercial engagement. During the visit Mr Robb will meet with business and government representatives, including joining the Prime Minister, Tony Abbott, at a series of meetings and events. Two-way trade with India is valued at around $15 billion.
TIM Media Release: Robb to deepen commercial ties with India
TPP Meetings, Hanoi 1-10 September 2014
TPP Chief Negotiators and officials are meeting in Hanoi from 1-10 September 2014 to further progress outstanding issues in the negotiations.
DFAT News: TPP Meetings, Hanoi 1-10 September 2014
Further milestones on Korea-Australia Free Trade Agreement (KAFTA) implementation
The Chair of the Joint Standing Committee on Treaties tabled the report of its inquiry into KAFTA in Parliament. The report supported KAFTA and recommended binding treaty action. Legislation has now been tabled in Parliament to this end. This brings the entry into force of KAFTA one step closer.
Headwinds confront booming exports
Australian rural exports have experienced strong growth over the past 4 years, averaging 12% per annum. Rural exports are forecast to reach a record $41b in 2013-14, driven in part by elevated export prices. Headwinds such as less favourable growing conditions mean that exports are expected to fall 6% next year.
Leisure travel underpins strong visitor number growth to Australia
Australia welcomed 6.1 million visitors in the year ending June 2014, an increase of 8%. Leisure travel continued to underpin the growth, with 2.8 million holiday travellers recorded. While visitor numbers are increasing, the average length of stay is falling, down 6% from 38 to 35 nights.
University of Melbourne takes top 50 spot for first time
The University of Melbourne has placed 44th in the annual Academic Ranking of World Universities (ARWU), the first time an Australian university has placed in the top 50. "The ARWU put 19 Australian universities in the world top 500 universities," said Jane Madden, Head of Investment at Austrade.
Investing in Australia "best decision we've made" – UK CEO
UK digital agency, Precedent, established a presence in Australia in 2009. Its Australian offices now employ over one-third of the company's global staff. Precedent is now using Australia as a launching pad into the Asia-Pacific. Investing in Australia is "probably the best decision we've made," said CEO Neil Davis.
Higher Education: The Geography of Foreign Students in the US
Between 2001 and 2012 the number of foreign students on student visas in the US increased dramatically, from 110,000 to 524,000. The largest increases came from emerging economies such as China. Around 45% of foreign student graduates in the US extend their visas to work in the same city in which they studied.
Brookings Institution: The Geography of Foreign Students in U.S. Higher Education: Origins and Destinations
38 Maps which explain the global economy
Commerce knits the modern world together in a way that nothing else quite does. Almost anything you own these days is the result of a web of global interactions. These maps show a world that is more closely linked than ever before.
Did you know?
Australia received the 11th largest international tourist spend from overseas visitors in 2013.
Trade articles sourced from non-Australian Government sources do not necessarily reflect the views of the Australian Government.