Trade Talk

20 June 2013

Trade In Services Agreement – Public consultations in Canberra

Australia is participating in negotiations in Geneva on a plurilateral Trade in Services Agreement (TISA). Public consultations will be held at the DFAT offices in Sydney on 16 July from 10am-12pm and in Melbourne on 19 July from 10.30am-12pm. Stakeholders interested in the TISA negotiations are invited to participate.

Further infomation on the Trade in Services public consultations

DFAT country and region factsheets released

DFAT has released the latest versions of its Country and Region Economic Fact Sheets. The Fact Sheets are produced for 179 countries, the EU, ASEAN and each of Australia’s states and territories. They provide a snapshot of each economy and their trade and investment relationship with Australia and the rest of the world.

Fact Sheets: DFAT Country and Region Fact Sheets

Poorest WTO countries granted new TRIPS extension

In Geneva, Australia helped broker a deal which gave Least Developed Countries (LDCs) a further extension (to 2021) to implement their obligations under the WTO Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS).  LDCs praised the overall result, noting that it would give them “greater incentives and capacity” for participating in TRIPS provisions as LDCs take on a larger role in global trade.

Bridges Weekly:  LDCs granted TRIPS extension

T-TIP negotiations to commence the week of July 8

US President Barack Obama and European Commission President Jose Manuel Barroso have announced that negotiations on the Transatlantic Trade and Investment Partnership (T-TIP) will commence on the week of July 8 in Washington D.C.  The followings factsheets from the White House and the EU outline the goals of the T-TIP.

White House Fact Sheet: Transatlantic Trade and Investment Partnership

EU Fact Sheet: Transatlantic Trade and Investment Partnership

WTO report on G-20 trade measures

Over 100 trade restrictive measures have been introduced in the G20 over the past 7 months according to a WTO report on G20 trade. Despite this, the report noted that G20 countries are exercising restraint in introducing new measures. The WTO Director has called on the G20 to “take positive steps to unlock the potential for trade to grow”.

Report Summary:  G20 trade measures

Trade and the G20

The Lowy Institute has compiled five papers under a report titled “Trade and the G20”. The papers vary in subject from Global Value Chains to trade liberalisation with all papers outlining the implications for the G20. Among key findings is the need for increased G20 support for the multilateral trading system.

Report:  Trade and the G20

Did you know?

A large slice of trade. In 2012 the value of Australia’s merchandise trade with G20 countries was $353.8 billion. This represented 72% of Australia’s total merchandise trade!

Visit the DFAT trade portal for more on Australian trade, including FTA updates and the latest trade statistics.