1 August 2013
Minister talks trade in Beijing
Trade Minister Richard Marles was in Beijing last week for talks to advance the China Australia FTA negotiations. Mr Marles’ visit to China comes two weeks after Prime Minister Kevin Rudd and Chinese President Xi Jinping agreed to explore ways to advance the FTA negotiations.
Ministerial Media Release: Minister in Beijing for Trade Talks
Australia’s trade in services 2012
Australia’s total trade in services surged in 2012, increasing by 3.6% to $113.2 billion. China, the US and the UK were Australia’s top three services exports markets. Professional and management consulting services, business travel services and financial services recorded the largest rises in services exports.
DFAT Publication: Trade in Services Australia, 2012
Japan joins the Trans-Pacific Partnership (TPP) negotiations
Australia participated in the 18th Round of the Trans-Pacific Partnership (TPP) negotiations, concluding in Kota Kinabalu on 25 July. This round saw Japan join the negotiating table for the first time. Progress was made across the agreement. The 19th round of negotiations will be held in Brunei from 24 - 30 August.
DFAT News Release: Eighteenth round of Trans-Pacific Partnership Agreement (TPP) negotiations
Trade boosted by increase in cross-border online shopping
Australia ranks as one of the world’s top cross-border shopping destinations according to a PayPal study. The study predicts cross-border shoppers will add $5 billion to Australia’s economy in 2013. The US is the largest cross-border spender in Australia while Thailand is the fastest growing purchaser from Australia.
PayPal study: The Modern Spice Routes-The Cultural Impact and Economic Opportunity of Cross-Border Shopping
Austrade CEO chews the fat with Pascal Lamy
In this podcast, Austrade CEO Bruce Gosper interviews outgoing WTO Director-General Pascal Lamy. The discussion covers the two-speed economy, protectionism post-GFC, the global financial system, global value chains and more. Lamy ends the chat with a note on the importance of Australia’s role at the WTO.
Austrade podcast: Bruce Gosper talks with Pascal Lamy, Director-General, World Trade Organization
EU-Colombia-Peru trade agreement takes effect
Trade barriers between the EU, Colombia and Peru have been lifted after Colombia finalised its internal ratification procedures for a joint trade agreement. The EU and Peru have been applying the agreement bilaterally since the beginning of March.
EU Media Release: EU-Colombia trade agreement takes effect on 1 August
Did you know?
Taking care of business… The number of business travellers to Australia reached almost 1 million for the year ending March 31 2013, a 2.4% increase on the corresponding period for the previous year. Together these business travellers added over $2billion to the Australian economy.
Visit the DFAT trade portal for more on Australian trade, including FTA updates and the latest trade statistics.