Trade Talk 7 March 2013
7 March 2013
Australia's total trade in services grows 3.5 per cent
The Department of Foreign Affairs and Trade this week released its annual Trade in Services for 2011-12, showing Australia's total trade in services rose 3.5 per cent to $111.4 billion. Australia's top services export markets were China, the United States and the United Kingdom, while the main import markets were the US, UK and Singapore.
Press release: Australia's trade in services for 2011-12
Asian Century business grants open
Expressions of interest are now being accepted for business grants under the Australian Government's $6 million Asian Century Business Engagement Plan. The grants aim to help member-based business organisations fund trade missions, market research and other innovative activities.
Ministerial press release: Government opens Asian Century business grants
Trade opportunities in the Asian Century
Austrade will hold free briefings on trade opportunities for Australian businesses in the Asian Century across Australia in mid-March. Senior Australian Trade Commissioners will be on hand to share their insights into doing business in key Asian markets. Online registration is now open.
Investment ties with New Zealand strengthened
The Protocol on Investment to the thirty-year old New Zealand-Australia Closer Economic Relations (CER) Trade Agreement entered into force on 1 March 2013. The Protocol will reduce compliance costs and provide greater legal certainty for trans-Tasman investors by providing higher thresholds at which foreign investments will be screened - $1,078 million for New Zealand investors and $390 million for Australian investors.
Press release: Milestone in investment ties with New Zealand
Aussie lamb set for India
Trade and Competitiveness Minister Craig Emerson and Agriculture Minister Joe Ludwig last week announced that Australian lamb could now be exported to India in recognition of Australia's strong health standards, helping Australian lamb producers tap into India's rapidly growing middle class.
Ministerial press release: Australia secures market access for lamb to India
OECD: fourth quarter merchandise trade figures
The Organization for Economic Co-operation and Development (OECD) has released merchandise trade figures for the fourth quarter of 2012. The figures show moderate growth among the world's major economies compared to the previous quarter's figures.
Did you know?
Australia imported $18.9 million worth of fireworks in 2012 – let's hope some of those are coming to Canberra for the national capital's 100th birthday celebrations this weekend!