Trade Talk, 6 July 2017
Pacific Alliance Free Trade Agreement negotiations launched
Minister for Trade, Tourism and Investment Steven Ciobo launched Free Trade Agreement negotiations between Australia and the Pacific Alliance – the Latin American trading bloc made up of Mexico, Chile, Peru and Colombia – on Saturday. Australia is one of the first countries to launch FTA negotiations with the Pacific Alliance. An FTA with the Pacific Alliance will create new export opportunities for Australian farmers, miners, manufacturers, educators, service providers and investors in some of Latin America's major economies. Importantly, this FTA will open the door to Mexico for Australian exporters.
Trade underpins our nation's prosperity
Australia's total trade in goods and services reached a record $673 billion last year. Trade contributed 1.5 percentage points to overall growth of 2.4 per cent, while export growth was driven by an 8 per cent increase in volumes in 2016, according to the Composition of Trade, Australia 2016 report.
Education-related travel services were a star performer in services trade rising 18 per cent to $22 billion.
China again took out the mantle of Australia's top trading partner, a position held since 2009.
Adelaide to host tourism trade event
Australia's largest annual event for building tourism opportunities for Australia – the Australian Tourism Exchange – will be held in Adelaide in April next year. More than 2500 delegates from more than 30 countries will meet and develop future tourism business for our country. Adelaide, as the host city, can expect an immediate injection of around $10 million to the local economy during the week-long event.
Efic announces new managing director
Australia's export credit agency has appointed a new Managing Director, Ms Swati Dave. Ms Dave has more than 30 years' experience in finance and banking in both domestic and international markets.
She has held a number of senior roles, most recently as Executive General Manager at the National Australia Bank. She brings to Efic a strong track record of leading strategy, driving customer focus, risk management and people leadership.
Skilling up lifts export performance
Enhancing the skills of a country's workforce lifts the export performance of its enterprises and better prepares them to meet foreign competition in the domestic market, according to economists from the International Labour Organization and the World Trade Organization.
Did You Know?
Exports rose 5 per cent to $330 billion, with iron ores & concentrates and coal combined accounting for 29 per cent of total exports in 2016.
Upcoming Trade Events
Selling your goods to China training session
Melbourne, VIC, 12 July 2017
This workshop will give you in-depth knowledge of ChAFTA and allow you to develop effective strategies to expand your market reach in the world's largest consumer market.
North Asia free trade agreements training session for SMEs
Dandenong, VIC, 18 July 2017
This workshop will take you through the key trends and opportunities in these markets and give you the information you need to start exporting your goods under the Japan and Korea free trade agreements.
Webinar: Pacific renewable energy project opportunities
Virtual event, 19 July 2017
Join this free interactive webinar to learn about renewable energy trends, challenges and project opportunities in the Pacific from the Asian Development Bank, World Bank, Pacific Power Association and Austrade.
Free trade agreements information seminar
Canberra, ACT, 27 July 2017
Find out how you can take advantage of the North Asia Free Trade Agreements with China-Australia (ChAFTA), Japan-Australia (JAEPA) and Korea-Australia (KAFTA). This interactive session will give you an opportunity to hear directly on the practical benefits that you may be able to realise from the Free Trade Agreements. Speakers include: The Hon Keith Pitt MP, Assistant Minister for Trade, Tourism and Investment; Senator the Hon Zed Seselja, Assistant Minister for Social Services and Multicultural Affairs; Michael Growder, Assistant Secretary, Department of Foreign Affairs and Trade; Sally Phillips, Manager, Free Trade Agreements Program, Austrade and more.