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Trade Talk, 9 October 2014

Trade Talk brings you a selection of the latest trade news from Australia and the world.

9 October 2014

Trade & Investment Minister to host three days of TPP negotiations

Minister Robb will host a three-day meeting of his counterparts from the 12 countries negotiating the TPP in Sydney later this month. Negotiations will focus on outstanding issues including agricultural market access, intellectual property and state-owned enterprises.

TIM Media Release: Robb to host TPP Trade Ministers' meeting

Increased export volumes for resources and energy sector

The transition in Australia's resource and energy sector is translating into increased export volumes. Australian metal ores and minerals exports rose 0.4% to $7.3 billion in August with coal exports up 3.7% to $3.2 billion. Australia's trade deficit narrowed to $787 million from a revised $1.1 billion deficit in July.

TIM Media Release: Trade data shows resources and energy transition

Indian Ocean Rim Association Ministers meet in Perth

Minister Bishop welcomed Ministers and delegates from 26 nations to Perth for the 14th Indian Ocean Rim Association (IORA) Council of Ministers meeting this week. As Chair from 2013-15, Australia is working to strengthen IORA's capacity and promote regional security and prosperity before handing over to Indonesia in 2015.

FM Media Release: IORA Ministers meet in Perth

EFIC's renewed focus on SMEs to boost jobs and growth

Australia's Export Finance and Insurance Corporation (EFIC) will be refocused to increase its capacity to finance SMEs seeking to capitalise on global trade opportunities. EFIC is no longer required to lend only for the export of 'capital goods'. EFIC will no longer provide financing for resources projects in Australia.

TIM Media Release: EFIC's renewed focus on SMEs to boost jobs and growth

G20 Sherpas prepare for Leaders' Summit

G20 Sherpas met recently for final preparations ahead of the November Leaders' Summit in Brisbane. Discussions focussed on identifying ways to drive economic growth. G20 nations agreed earlier this year to the aim of increasing economic growth by at least 2% above current projections by 2018.

G20 News: G20 Sherpas prepare for Leaders' Summit

The G20 Leaders' Summit in numbers

Next month the G20 Leaders' Summit will be held in Brisbane. The event will require 100,000 meals, 10,000 beds at 64 hotels, 6,000 police, 4,000 delegates, 3,000 media, 2,000 specialist hospitality and tourism staff, 700 volunteers, 30 state aircraft and will be translated into 14 different languages.

G20 News: G20 Facts and Figures

IMF forecasts 'weaker than expected growth for 2014'

The IMF forecasts global growth to average 3.3% in 2014 - unchanged from 2013 - and to rise to 3.8% in 2015. The report says weaker than expected growth for 2014 reflects setbacks to economic activity in advanced economies. Australia is expected to perform better than previously forecast for this period.

IMF Survey: Global Growth Disappoints, Pace of Recovery Uneven and Country-Specific

Women in Global Business – Engaging with developed Asia

Keynote speakers from the public and private sectors will discuss how to leverage FTAs to maximise opportunities. Events across Australian capital cities in October will discuss strategies to expand and grow in developed Asian markets.

Women in Global Business: Speaker Series 2014 – Engaging with developed Asia; FTAs demystified

Review of Australia's Border Fees, Charges and Taxes: Industry consultation

The Government has commissioned a joint review of border charges, fees and taxes. The review is an opportunity for industry and the community to contribute ideas that enhance trade growth and boost Australia's economic prosperity. Deadline for comments is 31 October 2014.

Border fees review: Joint Review of Border Fees, Charges and Taxes

Did you know?

Australia was the 12th largest economy in the world in 2013 with the 5th highest GDP per capita, at US$64,578 according to IMF World Economic Outlook.

Trade articles sourced from non-Australian Government sources do not necessarily reflect the views of the Australian Government.

Last Updated: 9 October 2014
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