Business support for the Trans-Pacific Partnership Agreement
Several industry peak bodies have re-affirmed their support for the TPP and said the Agreement will be beneficial for Australia. The Australian Food and Grocery Council, Australian Industry Group, Business Council of Australia, Export Council of Australia, American Chamber of Commerce in Australia, National Farmers’ Federation, and Minerals Council of Australia have expressed strong support for the TPP.
Minister Ciobo discusses reinvigorating the World Trade Organization’s negotiations agenda
Minister Ciobo was in Norway last weekend, discussing ways to reinvigorate WTO negotiations and setting the agenda for the 11th WTO Ministerial Conference in Buenos Aires in 2017. Mr Ciobo also chaired a ministerial meeting on the Trade in Services Agreement, worked with counterparts toward the conclusion of negotiations for the Environmental Goods Agreement and visited the Netherlands to build support for the launch of negotiations for an Australia-EU FTA.
DFAT: Media Release
Study planned on business uptake of benefits on offer in Free Trade Agreements
DFAT has issued an approach to market on AusTender to commission a Free Trade Agreement Utilisation Study. The study will look at FTA utilisation by Australian business, and the way FTAs may impact Australian business activities. It will identify and explore barriers to the use or utilisation of FTAs, and report on what more might be done to maximise the take-up of FTA opportunities. Full procurement documentation is available at the AusTender link below.
AusTender: Approach to Market Documents
Bring on the backpacker boom
Trade, Tourism and Investment Minister Steven Ciobo launched a new global tourism campaign in the United Kingdom this week, featuring a pop up beach at Victoria Station, to entice working holiday makers Down Under. The campaign builds on the Government’s recent reform package which offers several incentives including the highest post-tax income among comparable countries with a tax rate at 19% for working holiday makers.
DFAT: Media Release
Commodity prices to rise in 2017
Commodity prices, including oil, are forecast to rise in 2017 as demand strengthens and supplies tighten according to the World Bank’s latest Commodity Markets Outlook. Metals and minerals prices are expected to rise 4.1% next year, while agriculture prices are expected to increase 1.4%. The report features a Special Focus analysing Organization of the Petroleum Exporting Countries’ recent announcement of plans to limit production.
Assistant Minister Pitt speaks at AccessChina’16
Assistant Minister for Trade, Tourism and Investment Keith Pitt has undertaken his first official visit to China to strengthen our economic relationship. Mr Pitt delivered a keynote address in Shanghai at AccessChina’16 – a five-day trade mission – encouraging businesses to take full advantage of the China-Australia FTA which will benefit exporters in services sectors such as education, health and aged care.
DFAT: Media Release
Rock Lobster exports go live with ChAFTA
Assistant Minister Pitt recently visited Geraldton Fishermen’s Cooperative live lobster warehouse within the grounds of China’s Baiyun Airport facility, which is the only Australian business to own holding tanks for live seafood in China. This facility enables live lobsters to be airfreighted to China in just 14 hours ensuring products remain fresh. ChAFTA has already seen the tariff for rock lobster cut to 9%, and it will be reduced again to 6% on 1 January 2017, Mr Pitt said.
DFAT: Media Release
Monash opens new food export pathway to China
An agreement between Monash University and China’s COFCO Nutrition and Health Research Institute will give the university’s new Food Innovation Centre access to COFCO NHRI’s technical resources, knowledge of Chinese consumers, regulatory expertise and market delivery platforms to help boost Australia’s exports to China. One of the new technology services available for SMEs is an immersive visualisation space, Cave 2, which enables food companies to visualise their products on the market shelves in both Asia and Australia.
Monash University: Full Article
China-Australia consortium invests $1.7b in Australian healthcare expertise
The Foreign Investment Review Board has approved the $1.7b investment in GenesisCare by a consortium formed by Macquarie Capital and Hong Kong-based China Resources Group. Operating 25 cancer centres across Australia, this investment will help GenesisCare accelerate its expansion plans into Asia. The company highlights how ChAFTA was the catalyst for discussions that led to the consortium forming and subsequent investment.
Austrade: Investor Update
Did You Know?
In seasonally adjusted terms as at September 2016, 1.5 million Australians were employed in the Health care and social assistance sector.
Upcoming Trade Events
Australia China Business Council: North Asia FTA Training Session for SMEs
Douglas, QLD, 28 October | Bunbury, WA, 8 November | Geraldton 10 November 2016
These seminars will help SMEs understand how different elements of an FTA can help support business objectives. This session covers tariff reduction schedules in FTAs, understanding HS codes and the different Rules of Origin for three different markets, transporting goods and international payments. Visit Austrade’s website for registration and further details.
Charles Sturt University: Agribusiness - North Asia FTA Training Session for SMEs
Bathurst, NSW, 31 October 2016
This training program will help small and medium sized agribusiness companies access and utilise Australia’s FTAs with China, Japan and Korea. The program concentrates on raising market awareness, provides technical training on the regulatory requirements to enter each market and advises companies on how to best to manage their supply chains.
North Asia FTA Information Seminars
South Yarra, VIC, 2 November | Wagga, NSW, 18 November 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.
Tourism Australia Industry Briefing
Hobart, TAS, 4 November | Adelaide, SA, 10 November | Sydney, NSW, 15 November 2016
Tourism Australia’s industry briefings feature presentations from TA’s senior executives covering current and future activities. Participants will hear TA’s insights and research from key international markets for each local audience.
Business SA: North Asia FTA Training Session for SMEs
Renmark, SA, 9 November 2016
Understand and utilise FTAs – Maximising your export opportunities and benefits in China, Japan and Korea. If your business is one of the thousands that may be underutilising FTAs, Business SA now offers training to demystify the whole process. This Business SA’s FTA training session has been developed and delivered by industry experts with extensive exporting experience in China, Japan and Korea.
Australia-Chile Economic Leadership Forum
Melbourne, VIC, 5-6 December 2016
The 2016 Forum will identify opportunities to expand our economic relationships in infrastructure, education, mining and as trade platforms. Join Ministers, private and public sector leaders and industry experts from Australia and Chile for a dynamic exchange to explore ways to access new markets and identify fresh opportunities for collaboration in global value chains.