21 July 2016
Minister and Assistant Minister for Trade, Tourism and Investment
The Hon Steven Ciobo was sworn in this week as Australia's Minister for Trade, Tourism and Investment. The Hon Keith Pitt was sworn in as Assistant Minister. Growing our exports, attracting new investment and increasing visitor numbers remains on the Government's agenda, Mr Ciobo said. The Government will continue its work on FTA negotiations while helping businesses capitalise on existing FTAs and further improving Australia's competitive advantage in tourism.
DFAT: Media Release
New Secretary for the Department of Foreign Affairs and Trade
Prime Minister Malcolm Turnbull has announced the appointment of Ms Frances Adamson as the new Secretary of the Department of Foreign Affairs and Trade. Ms Adamson was Australia's Ambassador to the People's Republic of China and served in the Australian Consulate-General in Hong Kong, as Representative to the Australian Commerce and Industry Office in Taipei and in the Australian High Commission in London.
PM: Media Release
IA-CEPA Negotiations continue – public submissions sought
Australia and Indonesia continue to negotiate the Indonesia-Australia Comprehensive Economic Partnership Agreement. With directives from Ministers to deliver an agreement that facilitates greater trade, investment and economic cooperation between the two countries, negotiators will meet for their fourth round of negotiations in Sydney in August. The Government accords high priority to the views and expertise of stakeholders with interests in our commercial relationship with Indonesia and welcomes electronic submissions via: email@example.com.
Growing the Australia-US relationship
Minister Ciobo was recently in the US participating in the 24th Australian American Leadership Dialogue. Mr Ciobo met with US political leaders to discuss ways Australia and the US could continue to grow their trade and investment relationship. The US is Australia's largest foreign investor and second largest two-way trade partner.
DFAT: Media Release
Australia and New Zealand sign arrangement to streamline trade
A Mutual Recognition Arrangement with New Zealand Customs Service will allow members of the Australian Trusted Trader programme and the NZCS Secure Exports Scheme to receive preferential border treatment when conducting Trans-Tasman trade. The MRA reduces the regulatory duplication between the two schemes, making it easier for Australian and New Zealand businesses to trade with each other.
DIPB: Media Release
DIPB: Australian Trusted Trader
Uncertainty in the aftermath of the UK referendum
As repercussions of the Brexit referendum in the UK continue to unfold, the extent of economic and political uncertainty has risen. As a result, the IMF in its latest World Economic Outlook Update has eased its forecasts for world growth in 2016 and 2017. The report also briefly elaborates on implications for policy makers.
IMF: Full Article
International visitors to help Australian tourism hit the mark
Australia is expected to meet key tourism industry targets by 2020, reaching a total overnight expenditure of $115.8b in real terms, according to Tourism Research Australia's Tourism Forecasts 2016. The reporthighlights that international visitor numbers are anticipated to drive growth in total spend, while China will overtake New Zealand as Australia's largest international tourism market.
TRA: Full Report
Did you know?
Indonesia was Australia's 12th largest trading partner in 2015, representing 2.2% or $15b of our total trade. Wheat dominated as our top export to Indonesia, while the top import was crude petroleum.
Upcoming Trade Events
Know-How for Inbound Tourism Excellence program
Sydney, 28 July I Melbourne, 9 August 2016
This program by the Australian Tourism Export Council helps businesses connect with the $36.6b international tourism market. The Know-How for Inbound Tourism Excellence or KITE program prepares tourism businesses for international readiness, providing market specific insights and specialist topic webinars. Visit the registration page to search for further dates and locations.
ATEC: Full Article
Speed Networking for International Business
Wollongong, 22 July | Newcastle, 28 July 2016
The NSW Government and the Export Council of Australia invite you to attend the free Speed Networking for International Business program which covers important topics that matter to all international traders. Industry experts discuss topics including managing international freight risks, protecting your intellectual property rights, finance for success and FTAs.