Trade Talk, 4 December 2014
Trade Talk brings you a selection of the latest trade news from Australia and the world.
4 December 2014
KAFTA to enter into force on 12 December 2014
Minister Robb has announced the free trade agreement with Korea (KAFTA) will enter into force on 12 December. This will deliver two tariff cuts in quick succession: one on entry into force, and a second on 1 January 2015. Businesses are encouraged to use a new step-by-step guide to taking advantage of KAFTA.
TIM Media Release: Robb announces Korea FTA to take effect in 9 days
New guide for businesses: Guide to using KAFTA to export and import goods
WTO work is "back on track" following Trade Facilitation Agreement breakthrough
WTO DG AzevÃªdo congratulated WTO members for committing to the decisions made in Bali on the Trade Facilitation Agreement and for their renewed commitment to the multilateral system. AzevÃªdo urged members to act immediately and reiterated the December 2015 date to conclude negotiations.
WTO News: WTO is "back on track", says Azevedo
Minister Robb welcomes WTO trade facilitation breakthrough
Minister Robb welcomed the decision by WTO Members to move forward on the Agreement on Trade Facilitation. "This is a most significant breakthrough. The Agreement on Trade Facilitation is the first new WTO Agreement to be adopted since the organisation was established almost 20 years ago," Mr Robb said.
TIM Media Release: Robb welcomes WTO trade facilitation breakthrough
Trade and Investment Minister to attend inaugural High-Level Dialogue in Beijing
Minister Robb is in Beijing to participate in the inaugural Australia-China High-Level Dialogue (HLD). The HLD is a new mechanism for Australia-China engagement and involves around 40 high level delegates from both countries discussing economic policy, regional engagement and other important issues.
TIM Media Release: Robb to attend inaugural high-level dialogue in Beijing
German software giant to build $150 million cloud computing centre in Australia
Germany's enterprise software giant SAP plans to spend $150 million on a cloud computing centre in Canberra. It will be a global hub showcasing best practices for public sector use of digital technologies and services, employing 250 skilled staff including developers and services professionals.
Austrade Investor Update: SAP looks to Australia for e-government global best practice
The benefit of free trade deals
Australia and China have concluded a free trade deal that is expected to earn Australia an extra $18 billion over the next decade. But what are free trade deals, and how do they benefit us? The ABC's 'Behind the News' program investigates.
ABC Video: What are free trade deals?
Austrade seeks submissions on investor visas
Austrade is seeking submissions regarding the Government's proposed changes to the Significant Investor Visa and the creation of the Premium Investment Visa. "Our objective [with the changes] is to see greater investment in areas where there tends to be thin capital flows" said Trade and Investment Minister Robb.
TIM Media Release: Submissions sought on investor visa program
Landmark Agreement to Extend APEC Business Travel Card
The lifespan of the APEC Business Travel Card (ABTC) that expedites travel and border entry between all 21 APEC member economies has received in-principle agreement from members to increase from three to five years. The ABTC was launched in 1997 and there were more than 164,000 active users as at mid-2014.
APEC Philippines 2015 to build more "inclusive economies"
2015 APEC Chair the Philippines will build on the significant breakthroughs in trade and economic sustainability achieved by APEC member economies in 2014. APEC will create a plan for action during the Philippines' year as Chair, in line with the theme, "building inclusive economies, building a better world."
Did you know?
Total trade between Australia and Germany was valued at almost $17 billion in 2013-14, making Germany Australia's 10th largest trading partner. Germany was also the 4th largest destination for Australian investment abroad in 2013, with the stock of investment valued at $57b in 2013.
Trade articles sourced from non-Australian Government sources do not necessarily reflect the views of the Australian Government.