Trade Talk 22 May 2014

Trade TalkAustralian Government, Australia Unlimited

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

TPP Ministers advance negotiations in Singapore

Trade Minister Andrew Robb and his TPP counterparts met in Singapore this week to advance negotiations for the 12-country agreement. Ministers devoted much of their time to bilateral market access discussions with other parties but also discussed progress in the negotiation of trade rules in the agreement. To build further momentum on the negotiations, Ministers decided on a pathway of intensified engagement over coming weeks.

Ministry of Trade and Industry Singapore: Joint Statement at the TPP Ministers Meeting in Singapore

APEC Trade Ministers push for improved trade and economic growth

Trade Ministers of the 21 APEC economies (including Australia’s Minister Robb) concluded their meeting on Sunday by issuing a statement on how to improve trade and economic growth across the Asia-Pacific. The statement includes actions to strengthen global value chains, enhance trade facilitation and add impetus towards eventual realisation of a Free Trade Area of the Asia Pacific (FTAAP).

APEC Secretariat: APEC Trade Ministers adopt Qingdao Statement

Trade in Services Agreement (TiSA) consultations in Perth and Adelaide next week

DFAT is holding consultations on the TiSA in Perth, on Thursday 29 May, and Adelaide, on Friday 30 May. More information on the consultations, including RSVP details, is available from the DFAT website. 

DFAT News:  TiSA Consultations

New ABS data reveals strength of Australia-China trade relationship

New ABS data shows that two significant milestones were achieved in our trade relationship with China in 2013.  For the first time Australia’s goods and services exports to China exceed $100 billion and our two-way trade in goods and services surpassed $150 billion. Australia’s exports to China increased 28% in 2013.

TIM Media Release: Australia’s exports to China exceed $100 billion in 2013

DFAT Ranking Tables: Australia's trade in goods and services 2013

Chinese resource demand remains resilient despite tempered economic growth

Chinese economic growth moderated in early 2014 but China’s resources and energy use remained relatively strong. According to the Bureau of Resources and Energy Economics, Australia’s exports of iron ore to China increased 4.7% in Q1 2014 while exports of thermal coal increased 13.1%.

BREE: Weaker March Quarter for China but resource demand remains resilient

Australia signs work and holiday arrangement with Greece

The signing of a reciprocal work and holiday visa arrangement between Australia and Greece is a step toward enabling young adults to undertake short-term work whilst travelling.  When brought into effect, this visa will allow 500 young adults from Greece and Australia to work and study in each other’s countries.

IM Media Release: Australia signs work and holiday arrangement with Greece 

APEC Women and the Economy Forum

Natasha Stott Despoja AM, Australia’s Ambassador for Women and Girls, at the APEC Women and the Economy Forum, announced that Australia will lead work over the next two years which will improve the capacity of trade promotion agencies in the APEC region to support women exporters.”

DFAT Media Release: Ambassador for Women and Girls highlights importance of women’s economic empowerment

Modern and Royal Families to boost Australian tourism

The visits by the Royal Family and the US sitcom Modern Family to Australia “have generated enormous international exposure which is expected to translate into increased international visitors” according to Tourism Australia. Coverage of the Royal Visit and the Modern Family episode has reached 29 countries.

Tourism Australia: Modern and Royal Families set to boost Australian tourism

Coming soon... interactive website to complement the highly popular Trade at a Glance pocket-book

DFAT: Australia’s Trade at a Glance

Did you know?

The very first APEC meeting was held in Canberra in 1989 as an informal Ministerial dialogue among 12 member economies. In 2013, APEC counted 21 members, accounted for 40% of world population, 47% of global trade and over half of world GDP.

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

Last Updated: 22 May 2014