30 July 2015
Upcoming trade events
North Asia Free Trade Agreements Seminars: Adelaide 5 August ǀ Canberra 12 August
Register to find out how you can take advantage of Australia’s North Asia Free Trade Agreements. These interactive sessions will give you information on the practical benefits that your business could realise from Australia’s FTAs with China, Japan and Korea.
TPP will be the world’s largest regional free trade agreement
Minister Robb is in Hawaii this week to conclude negotiations on the Trans-Pacific Partnership agreement (TPP). He says negotiations are at a very advanced stage and the Australian Government is pushing hard to secure major gains and opportunities for our business and economy.
New plan enables businesses to connect with young Australians
Minister Bishop announced three new initiatives last week to enable businesses to connect with young Australians. The New Colombo Plan Internship and Mentorship Network, the Mobility Partners Program and the Business Champions Initiative will foster Australia’s future leaders and prosperity.
WTO landmark Information Technology Agreement worth US$1.3 trillion
Participating WTO Members have agreed to eliminate tariffs on more than 200 IT products. The deal is worth more than the combined global trade in textiles, clothing, iron and steel according to WTO DG Azevêdo. Elimination of tariffs on these products will support lower prices and assist Australian exporters.
Blue economy central to growth
Representatives of the Indian Ocean Rim Association (IORA) met in Bali this week to discuss regional cooperation on the blue economy. Australia is the current chair of IORA and hosted this event. The blue economy is sustainable economic activity associated with the ocean and is a key driver of growth and job creation for economies in the Indian Ocean rim.
Released today, the 2015 Australian International Business Survey (AIBS) is one of Australia’s largest and most in-depth surveys of internationally-active businesses. The survey looks at barriers to conducting international business, current markets and future outlook and opportunities.
Managing export risks: a guide for SMEs
In its SME Information Series, Australia’s export credit agency, Efic, provides advice on identifying and managing risks when entering a new market as a small or medium enterprise. The eBook explains the risks involved with exporting or participating in an export supply chain and how to minimise their impact.
Victorian dairy company secures 15 year $9 billion deal exporting to China
Victorian company Camperdown Dairy International has secured a 15 year deal to export 10 million tins of baby formula a year to China. The deal, worth $600m a year, is hoped to spark an Australian dairy boom in China. The infant formula market in China is expected to grow to around $33b a year within three years.
Twelve years of Singapore-Australia FTA
The Singapore-Australia Free Trade Agreement (SAFTA) celebrated twelve years this week. SAFTA improves increased market access for Australian exporters of services to Australia’s fifth largest two-way trading partner. In 2014 Australian goods and services exports to Singapore were worth $12.1b.
Did you know?
Australia’s services exports to Singapore in 2014 were $3.7 billion, up from $2.2 billion in the year SAFTA was signed. The biggest increase has been in our exports of professional, technical and other business services. Worth $404 million in 2003, it has more than doubled to be $1.1 billion in 2014.