Trade Talk brings you a selection of the latest trade news from Australia and the world.

13 November 2014

Prime Minister Abbott: G20 focus on growth, jobs and governance

Prime Minister Abbott says the G20 should stay focused on growth, jobs and the world’s economic governance. He emphasises the importance of the private sector and that ‘trade is what drives national growth and prosperity and helps lift people out of poverty’.

PM: This summit is about real results, not lofty words

Trade and Investment Minister discusses opportunity of China FTA

In an interview with Sky News, Minister Robb says ‘the whole point about the free trade agreement is to create jobs. If we don’t have a living document which moves with the changing nature of China, then we will be left behind. But if we do move with China’s change it’ll create endless opportunities for Australia’.

TIM: Interview with Sky News -Beijing

APEC deepens Asia-Pacific partnership

A Joint Ministerial Statement details new actions that will deepen Asia-Pacific partnership to navigate the changing regional and global landscape and boost economic recovery. It was issued by APEC Ministers following the conclusion of the 26th APEC Ministerial Meeting on Saturday in Beijing.

APEC: APEC Joint Ministerial Statement issued

TPP Leaders agree concluding TPP negotiations is a top priority

The Leaders of the 12 countries negotiating the Trans-Pacific Partnership Agreement (TPP) adopted a statement on 10 November that welcomed the significant progress in the negotiations. Leaders instructed Trade Ministers and negotiators to make concluding the TPP negotiations a top priority.

DFAT: Trade Ministers’ report to Leaders

DFAT: Leaders’ Statement

WTO report shows restrictive trade measures continue to rise

A WTO report says restrictive trade measures introduced by G20 economies since 2008 continue to rise. Only 282 of the 1,244 restrictive measures recorded since 2008 have been removed and the number of restrictive measures in place has increased by 12 per cent over the past year.

WTO News: WTO report says restrictive trade measures continue to rise in G20 economies

OECD: comprehensive action needed to propel the global economy

The implementation of growth supportive policies is needed to accelerate the global economy, reports the OECD in their latest Economic Outlook. The full report will be presented on 25 November and will provide policy recommendations for strengthening growth and combating downside risks.

OECD News: Comprehensive action needed to shift the global economy into higher gear, says OECD in latest Economic Outlook

Least Developed Countries’ (LDC) trade share sees growth

Exports of goods and commercial services from LDCs increased by 5.2 per cent in 2013, more than twice the world average of 2.5 per cent. Developing economies are becoming more important as destinations for LDC exports. But there’s room for further improvement - LDCs’ total trade share is only 1.23 per cent of global trade.

WTO News: Exports of poorest countries rebounded in 2013 but their trade share remains marginal

Did you know?

Australia traded over $439 billion worth of goods and services with G20 members in 2013, representing 68 per cent of Australia’s total trade.

Trade articles sourced from non-Australian Government sources do not necessarily reflect the views of the Australian Government.

Last Updated: 24 November 2014