Trade talk 20 March 2014

Trade TalkAustralian Government, Australia Unlimited

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

TPP consultation briefings in Melbourne and Sydney on 26 and 27 March

The TPP negotiating team will visit Melbourne and Sydney on 26 and 27 March to meet with interested members of the public, and business and civil society stakeholders. Stakeholders wishing to attend should send an RSVP to by COB today. For additional information see the link below.

DFAT TPP News:  TPP consultation briefing in Melbourne and Sydney on the 26 and 27 March 2014

Live cattle exports to Vietnam significantly exceeding expectations

Australia is set to significantly exceed expectations for live cattle exports to Vietnam this year. “Vietnam is the second biggest market for northern Australia’s live cattle trade” said Bernie Brosnan from Wellard Rural Exports.

ABC News:  Record growth in live cattle trade to Vietnam

ANZ CEO: Opportunity for Australia to become a specialist financial centre

Asia’s share of global financial assets will rise towards 50% of the global total by 2030, leading to a boom for banks and financial products according to ANZ Bank CEO Mike Smith. "For a country like Australia there is a genuine opportunity to become a specialist financial centre” said Mr Smith.

ABC News:  China Banking Opportunity highlighted by ANZ Chief

Non-tariff barriers to trade (NTBs) hampering trade in South Asia

NTBs are significantly hampering trade in South Asia. For example, if trade infrastructure between Bangladesh and India was upgraded, the trade volume could increase to 6 times its current level. Intra-regional trade in South Asia constitutes 5% of the total trade of South Asia countries, compared to 58% in the EU and 26% in the ASEAN zone.

East Asia Forum:  Breaking down trade barriers in South Asia

Azevêdo reports “excellent start” on efforts to put Doha Round back on track

WTO Director-General Roberto Azevêdo reported that the chairs of the negotiating groups have completed the first round of consultations on Doha issues that might be taken forward. “I have heard a lot of good feedback and there is much we can build on but nevertheless there remains a lot to do” said Azevêdo.  

WTO News:  Azevêdo reports “excellent start” on efforts to put Doha Round back on track

Canada and South Korea secure trade deal

Canadian PM Stephen Harper and Korea President Park Guen-Hye confirmed last week that their two countries had concluded negotiations for a trade agreement, the first such agreement with an Asia-Pacific partner for Canada. The bilateral trading relationship between Canada and Korea stood at US$9.6b in 2012.

ICTSD:  Canada, South Korea Clinch Trade Agreement

Did you know?

India is Australia’s fifth largest export destination, with exports valued at over $13b in 2012-13, representing 4.4% of Australia’s total exports. Australian exports to India grew over 320% between 2002-03 and 2012-13. Australia’s major exports to India in 2012-13 included coal ($4.8b), gold ($3b) and education ($1.2b).

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

Last Updated: 20 March 2014