Trade Talk 17 December 2015

17 December 2015

Trade Talk is taking a break for the holiday season, returning January 21. From all here at the Trade Talk team, we wish all our readers a Merry Christmas and a safe and prosperous New Year.

China-Australia FTA (ChAFTA) enters into force this Sunday, 20 December 2015

The historic ChAFTA enters into force this Sunday, 20 December 2015. DFAT’s website includes a range of resources for businesses and the public, including factsheets, FAQs, a new import/export guide, and an FTA Portal which gives information about tariffs, rules of origin and market snapshots.

DFAT: Guide to using ChAFTA to import/export goods

DFAT: Free Trade Agreement Portal

DFAT: ChAFTA FAQs

Robb to promote new approaches to global trade liberalisation

Minister Robb is attending the Tenth Ministerial Conference of the World Trade Organization in Kenya this week, promoting new approaches to global trade liberalisation. Minister Robb said he will also advocate for the abolition of trade distorting export subsidies to enhance the competitive position of Australian exporters.

Media Release: Robb to promote new approaches to Global Trade Liberalisation to WTO in Africa

Speech: Ministerial Meeting (MC10), World Trade Organization, Opening Plenary

WTO Members agree to expanded Information Technology Agreement (ITA) Coverage

On 16 December 2015, more than 50 WTO Members agreed to expand commitments under the ITA. The agreement will remove tariffs on a further 201 technology products currently worth US$1.3tr in global exports. This will put downward pressure on the cost of a range of key IT products and assist our high tech export industries.

Media Release: Australia to benefit from tariff cuts on popular high-tech goods

DFAT: Information Technology Agreement

Australia’s aid for trade investments encouraging economic growth

Ministers Bishop and Robb have announced that Australia will contribute $6m in aid for trade investments to help boost trade and encourage economic growth in developing countries. In 2014-15, Australia’s aid for trade investments increased to $823m, or 16.4% of the aid budget, up from 12.8% in 2013-14.

Joint Media Release: Aid for trade driving growth in our region

Regional Australia receives tourism funding boost

Rural and regional areas in Australia are expected to receive a tourism boost with the Government investing more than $95m in regional tourism infrastructure projects. Senator Colbeck said projects will include a new Arts and Community Precinct in Karratha (WA) and upgrades to Bathurst Airport (NSW).

Media Release: $95 million funding boost for regional tourism

Environmental Goods Agreement (EGA) progress is welcome news

WTO DG Azevêdo has welcomed a statement from Minister Robb, the EGA chair, on the considerable progress of the EGA negotiations. Minister Robb’s statement also highlighted a high degree of convergence in many areas of the negotiations. Negotiators will re-engage in 2016 to continue to work towards a conclusion.

DFAT: Further details - Environmental Goods Agreement

WTO: DG Azevêdo welcomes progress in Environmental Goods Agreement

Demystifying Korea for Australian services exporters

The Export Council of Australia’s new research report, Demystifying Korea, explores the Korea-Australia Free Trade Agreement (KAFTA). The report helps Australian services exporters identify opportunities and understand challenges that they may face in the Korean services sector.

ECA: Demystifying Korea Research Report

Australia named ‘Destination of the Year’

One of America’s leading travel publications, Condé Nast Traveler, has named Australia ‘Destination of the Year’. The magazine’s ‘Gold List’ January 2016 issue will feature more than 20 pages on Australia and its food and wine, fashion and style influencers, hitting a total readership of 2.3m.

Tourism Australia: Australia named 'Destination of the Year' by Conde Nast Traveler

Did you know…

Australia’s Christmas trees will be decked out this year with $7.7m worth of Christmas tree lighting sets imported in 2014-15.

Upcoming Trade Events

Inaugural Australia-US Business week

Minister Robb will lead an Australian business delegation for a series of high level trade, investment and tourism events in the US in 2016. The inaugural Australia-US Business week is a major initiative to increase Australia’s business links with the world’s largest economy. Businesses can register interest online.

Austrade: Australia United States Business Week (AUSBW)

Register interest: Business Missions EOI

Visit the DFAT trade website for more on Australian trade, including FTA updates, the latest trade statistics and the Trade Talk archives.

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

Last Updated: 17 December 2015