Trade & Investment: A Formula for Growth
In his National Press Club address this week Minister Robb highlighted the benefits of Australia’s free trade agreements. Mr Robb said the FTAs have “…opened new markets or improved our competitiveness for Australian exporters…” Focusing on Services, he said that Australian businesses need to be prepared to establish a physical presence in emerging markets in our region.
Barriers to growth in service exports: draft report
The Productivity Commission released its draft report on barriers to growth in service exports and invited written submissions. It covers six services sectors: tourism, education, financial services, professional services, IT and health services, which account for around 85% of the total value of service exports.
Australia’s luxury tourism market to better target international travellers
A new partnership between Tourism Australia and leading luxury travel network, Virtuoso, is expected to grow Australia’s luxury tourism sector. Virtuoso’s network generated more than $10b in sales from the US and Canada each year and latest data shows US visitors spent close to $2.95b in Australia over the last year.
US Mustang to use Australian carbon fibre wheels
Geelong-based Carbon Revolution has been chosen to supply its carbon fibre wheels for Ford’s new Mustang. The cutting-edge design delivers a 50% weight saving over aluminium and shows Australian advanced manufacturing continues to play an important role in supplying the global auto market.
Australia shares automotive expertise with India’s car industry
A mission of India’s car industry experts is in Australia this week to learn about local automotive technology and research and explore potential collaboration opportunities. India’s car industry will soon be the 4th largest by volume, and accounts for 45% of its industrial output.
New phase for China growth
This Brookings article looks at China’s growth pattern since the global financial crisis and its response to a changing growth dynamic. It examines China’s investment policy and its external responses such as the Asian Infrastructure Investment Bank and the “One Belt, One Road” initiative.
Trade facilitation and paperless trade in the Asia-Pacific
Australia’s implementation rate for trade facilitation measures is second only to Singapore in the Asia-Pacific Region, according to this 2014 UNESCAP report. The report examines the implementation of trade facilitation measures and reviews achievements and challenges in the Asia-Pacific region.
Red hot centre to see increase in visitors
The feature photo shoot of Australian Actor Nicole Kidman at Uluru in this month’s Vogue Australia is expected to see a spike in enquiries and bookings in the region similar to the Royal visit last year. The Vogue article includes details of where to stay and what to do. Tourism Australia is hoping operators in the region will benefit.
World Trade Organization 2015 Annual Report
The 2015 WTO Annual Report provides a comprehensive overview of the WTO’s work in 2014.
Did you know?
Australia’s exports of financial services are growing strongly – more than tripling from $1.0 billion in 2010 to over $3.3 billion in 2014.