Australia's trade by state and territory
DFAT has this week released Australia's Trade by State and Territory 2011-12, which provides a statistical guide to trade in goods and services for each state and territory. While Australia's export growth extends well beyond resource-rich states, Western Australia again accounted for the largest share of total exports (40 per cent) in 2011-12.
DFAT media release: Trade success in Australia’s state and territories
Australia supports trade sector development in Laos
Foreign Minister Bob Carr this week announced that Australia will provide $5 million to expand trade and improve economic competitiveness for Laos in the international market. This assistance is provided through the Trade Development Facility, and will help reduce customs clearance times and halve the number of days taken to get an import licence.
Media release: Australia supports trade sector development in Laos
Blueprint for Australian Agriculture 2013-2020
The National Farmers' Federation last week released the 'Blueprint for Australian Agriculture 2013-2020', which sets out a range of priorities for the agricultural industry over the coming years. Recommendations include new farm ownership structure options, the creation of a joint industry/government food and fibre 'think tank', and upgrades to agricultural infrastructure. Industry leaders have also highlighted the need to establish free trade agreements with key markets and promote continued foreign investment in the sector.
National Farmers’ Federation: Blueprint for Australian Agriculture
More on agriculture: Feeding the Future
The joint Australia-China report 'Feeding the Future', released by Trade and Competitiveness Minister Dr Craig Emerson and his Chinese counterpart, Commerce Minister Mr Chen Deming, seeks to establish a best-practice approach to Australia–China cooperation in agriculture. The report also provides a blueprint to raise rural productivity and increase both countries roles in supplying global food markets.
DFAT: Feeding the Future
EU-Singapore FTA: implications for wine and food terms
The Department of Agriculture, Fisheries and Forestry (DAFF) invites views on a list of 196 wine and food terms which the European Union is seeking to protect in Singapore as a result of the EU-Singapore Free Trade Agreement. DAFF is interested in finding out if Australian stakeholders consider any terms on the list are generic terms. Responses are due 8 March.
US-EU negotiations announced
The United States (US) and the European Union (EU) last week announced their decision to launch negotiations on a new Transatlantic Trade and Investment Partnership. The Partnership aims to advance trade and investment liberalization and address regulatory and other non-tariff barriers. The economic relationship between the US and EU is the largest in the world, representing around half of global output and nearly one trillion US dollars in goods and services trade.
Office of the United States Trade Representative: U.S., EU Announce Decision to Launch Negotiations on a Transatlantic Trade and Investment Partnership
Did you know?
Australia is a well-groomed nation – over $545 million worth of makeup and skincare preparations were imported last year. That includes around $44 million worth of lipstick!