Trade Talk, 8 June 2017
Latest trade data shows surge in export values
Minister for Trade, Tourism and Investment Steven Ciobo said the latest Australian Bureau of Statistics data demonstrated the fundamental strength of Australia's trade performance and follows the record level set in December 2016. With exports rising more than imports, the trade surplus increased to a record of $9.2 billion in the March quarter.
UK and Australia ideal trade and investment partners
Minister Ciobo highlighted the importance of the UK-Australia bilateral trade and investment relationship and outlined the benefits to both sides of a post-Brexit free trade agreement in a speech to the Australian British Chamber of Commerce last week.
OECD focuses on harnessing benefits of global trade
Minister Ciobo will advocate economic openness and ambitious trade liberalisation as vice chair of an OECD Ministerial Council Meeting on harnessing the benefits of global trade in Paris this week. The Minister will also co‑chair an informal meeting of WTO ministers to discuss priorities for the WTO's 11th Ministerial Meeting in December where Australia will seek outcomes that promote trade liberalisation and strengthen the global trading system.
Women in Export Scholarship winner announced
Dr Noelle Sunstrom is the winner of the inaugural Women in Export Scholarship, Minister Ciobo announced this week. Dr Sunstrom is the founder and CEO of NeuClone Pty Ltd, which develops and commercialises high quality biosimilar medical products.
New business events portal to connect planners and suppliers
Minister Ciobo has launched a new business events portal to give visitors an enhanced user experience and more opportunities to connect with Australian business events suppliers. The new portal offers planners and decision makers direct access to Tourism Australia business events representatives and Australian business events products and destinations, to allow users to easily make contact with sources of inspiration and information on holding a business event in Australia.
International tourists loving regional Australia
Regional Australia is enjoying a tourism boom with a 29 per cent increase in both international tourists and spending over the last three years the latest International Visitor Survey for the year ending March 2017 shows. For Australia overall, Asian markets recorded the fastest growth in spend for the year, with six key markets showing double-digit growth – Japan (up 18 per cent to $1.7bn); Korea (up 10 per cent to $1.6bn); India (up 18 per cent to $1.3bn); Taiwan (up 21 per cent to $960m); Indonesia (up 10 per cent to $715m); and Thailand (up 23 per cent to $442m).
Trade gain to support Aussie meat exports to the UAE
A major technical barrier to trade estimated to have cost industry up to $60 million per year has been lifted in the United Arab Emirates, through the extension of the accepted shelf life for Australian vacuum-packed beef and sheep meat. Deputy Prime Minister and Minister for Agriculture and Water Resources, Barnaby Joyce welcomed the breakthrough as an excellent result for Australian farmers, exporters and the entire industry. "The UAE is Australia's biggest market in the Middle East for agricultural exports, with sheep meat and beef worth $295.8 million to our bottom line," Minister Joyce said.
Australia first to eliminate farm export subsidies
Australia has become the first WTO member with export subsidies entitlements to eliminate them from its WTO schedule of commitments, in line with the landmark 2015 commitment by WTO members to eliminate farm export subsidies.
Cairns Group releases statement on objectives for MC11 and beyond
The Cairns Group of agricultural exporting countries released a statement to WTO Members outlining their objectives for the 11th WTO Ministerial Conference (MC11) and beyond. This statement outlines the Cairns Group's objectives for negotiations in the three agricultural pillars, Domestic Support, Market Access and Export Competition.
Call for comments on investment and e-commerce in RCEP
Australian businesses with experience in investment and e-commerce in RCEP countries are invited to share their experiences with DFAT to inform Australia's engagement in the RCEP negotiations. The discussion papers seek input on a range of issues including behind the border barriers.
BCA President discusses the importance of trade and resisting turning inward for Australia's economic prosperity
"Just think where we would be if we couldn't sell our iron ore, coal and gas, our beef, our education services abroad in return for imports of computer equipment, oil, cars, pharmaceuticals and overseas travel? Indeed, it is unthinkable. We would certainly be a lot poorer," Grant King, President of the Business Council of Australia writes in this blog based on his panel participation at the recent Committee for the Economic Development of Australia (CEDA) State of the Nation 2017 event.
Australian Export Awards now open
Minister for Trade, Tourism and Investment Steven Ciobo has encouraged Australian exporters to enter the 55th Australian Export Awards program. These awards highlight the international business success of Australian companies based on export growth, marketing and financial strategies.
Did You Know?
International business events visitors spend three times as much as leisure visitors on average during their trip to Australia.
Upcoming Trade Events
Your path to China export success - ChAFTA Training Program
Mt Gambier, SA, 20 June
With the help of a FTA Training Provider Grant, the Australia China Business Council and the Export Council of Australia are offering this ChAFTA Training Program to train businesses on how to use ChAFTA and reap the benefits of a deeper engagement with China.
FTA Training Session for SMEs: Selling goods to China
Shepparton, VIC, 22 June
With the help of a FTA Training Provider Grant, this workshop will cover the key trends and opportunities in China and the information you need to export under ChAFTA, including how you can take advantage of preferential tariff treatment and understanding rules of origin.
Essentials for Exporting Success in ASEAN
Dunsborough, WA, 28 June
A range of service providers and experts on the ASEAN market will be on hand to provide advice and solutions for exporters at this free ECA event. Exporters also wishing to discuss the Western Australian Industry and Export Awards and its application process can book a time with an ECA representative.
2017 Korea-Queensland Business Forum
Brisbane, QLD, 29 June
Speakers at this event will outline new and emerging business opportunities in the Korea-Queensland corridor and how best to capitalise on them.