Tasmanian company’s cherry exports skyrocket under KAFTA
After only 2 months in force, business is already benefiting from the Korea-Australia Free Trade Agreement (KAFTA). “Korea’s 24% tariff on cherry imports was scrapped [under KAFTA]” said Trade Minister Robb. “As a result, Reid Fruits’ exports to Korea sky-rocketed, from 5 tonnes last season, to 183 tonnes this season.”
TIM Media Release: Robb: FTAs delivering results for Tasmanian farmers
Trade in Services Agreement (TiSA) members welcome Uruguay to the negotiations
Uruguay became the 24th Party to join the Trade in Services Agreement, participating in the 10th round of negotiations chaired by the United States in Geneva last week (9-13 February). More than 200 delegates and experts attended the negotiations, making further progress across the negotiating texts.
DFAT TiSA News: Tenth Round (9-13 February 2015)
Enhancing Australia’s investor visa program
The Government released a draft investment framework for an enhanced Significant Investor Visa Scheme and design options for a new Premium Investor Visa last week. The reforms are aimed at better directing investment into dynamic areas of the economy, including venture capital and small emerging companies.
Joint TIM and AMIBP Media Release: Enhancing Australia’s investor visa program
New rules on agricultural land purchases
Australia will reduce the screening threshold for agricultural land purchases by foreign investors from $252 million to $15 million by March. “Foreign Investment is integral to Australia’s economic success” said PM Abbott “but the community must have confidence that it’s coming in on our terms and for our benefit.”
Austrade Investor Update: New rules on agricultural land purchases
ChAFTA and the Chinese dairy market
The China-Australia Free Trade Agreement (ChAFTA) will eliminate most tariffs on Australian dairy products. In 2008, China and New Zealand signed a similar FTA, sparking a surge in New Zealand dairy exports to China.
PIIE Blog: Chart of the Week: Australia, New Zealand, and the Chinese Dairy Market
BBC News: Australia to cash in on China milk boom
Australian tourism investment app updated
Tourism Australia and Austrade have updated their Australian tourism investment application, “Australian Tourism Open for Investment”. It contains up-to-date information, statistics, contacts and opportunities to help making investing in the sector easier.
iTunes Application: Australian Tourism Open for Investment
OECD: Pace of reform across advanced economies slows
The pace of policy reform has slowed in most advanced economies, after a significant acceleration during the Global Financial Crisis, according to a new OECD report. The report suggests that reforms across a wide range of policy areas offer governments the best chance to restore healthy economic growth.
OECD Press Release: Ambitious reforms can create a growth path that is both strong and inclusive, OECD says
OECD YouTube: Putting the global economy on a more virtuous path
Did you know?
Australia’s largest import from Uruguay is food! In 2013-14 Australia imported over $16m in food, over 15 times greater in value than our second largest import, essential oils and perfumes.