Trade Talk, 7 April 2016
More tariff cuts under Japan FTA
This week saw the third round of tariff cuts under the Japan-Australia Economic Partnership Agreement, which will help boost exports of more than 1200 Australian products to Japan. Minister Ciobo said these tariff cuts enhance Australia's competitive position and was pleased to see businesses taking advantage of this opportunity.
Australia's trade by state and territory
DFAT's latest statistical publication, Australia's Trade by State and Territory 2014-15, reports that between them, Australia's states and territories exported over $300b of goods and services last financial year. Export volumes were up in New South Wales, Victoria, Queensland, Western Australia and the Australian Capital Territory.
New export loan for small business
Minister Ciobo has announced the new Small Business Export Loan facility for SMEs, the first of its kind for small exporters. Provided by Efic, the new loan facility will make it easier for SMEs to export and expand their business, driving growth.
Australia and India team up on skills training
Special Envoy for Trade Andrew Robb has been in India progressing a new education and training cooperation initiative with industry and education sector leaders. Senator Colbeck said the initiative will underpin our strong track record in delivering quality education to Indian students.
Trade raises living standards in APEC Region
According to a new APEC report, living standards have improved across 21 APEC member economies on the back of trade-driven economic and social development. Trade growth between APEC economies has enhanced the choices available for consumers in the region, including medical and educational products and services.
Australian invention Seabin tackles ocean pollution
Two Australians have developed a world first, innovative product to clean the world's oceans. The automated bin which collects floating rubbish, oil, fuel and detergents, is receiving worldwide demand, with initial requests from America and France. Developers hope to export the Seabin to marinas around the world, with a subsequent rollout to channels and bays.
Did you know…
In 2014-15, Tasmania's top three exports were all resources. Aluminium worth $492m topped the list, followed by Zinc worth $448m and then Iron Ores & Concentrates worth $273m.
Upcoming Trade Events
North Asia Free Trade Agreements Information Seminars: VIC | NSW
14 April | 18 April | 19 April | 27 April 2016
If you are a current or prospective exporter don't miss these free, interactive sessions which explain practical benefits your business could realise from Australia's historic FTAs with three of our largest export markets – China, Japan and Korea. Visit Austrade's website for registration, further details and future seminar dates.