Trade Talk, 22 October 2015

Trans-Pacific Partnership Outcomes: Resources and Energy

The TPP will eliminate tariffs on key Australian minerals, petroleum and liquefied natural gas (LNG) exports and lock them in at zero. Australia’s cutting-edge suppliers of Mining Equipment, Technologies and Services (METS) also stand to benefit considerably from the TPP.

DFAT: Outcomes: Resources and energy

Bi-partisan support for the China-Australia Free Trade Agreement (ChAFTA)

Minister Robb and Minister Dutton have announced that an agreement has been reached with the Federal Opposition, to support ChAFTA’s implementing legislation currently before the Parliament. Once in force, ChAFTA will provide enormous opportunities for Australia in the years and decades ahead, supporting growth and job creation.

Joint Media Release: Government and Opposition reach agreement on support for China-Australia free trade deal

JSCOT report: Australian industry to benefit significantly from ChAFTA

Substantial benefits will flow to a range of Australian industries from the implementation of ChAFTA, according to Parliament’s Joint Standing Committee on Treaties (JSCOT). The Committee Chair said it’s essential that ChAFTA is implemented quickly to help businesses and industry catch up with Australia’s competitors.

China’s growing middle class predicted to double consumption

As China’s middle class grows, China’s consumption is predicted to more than double by 2030. This ANZ report examines China’s shift from an investment-led to a consumption-driven economy and the opportunities for Australian service providers, including tourism, education and financial services.

ANZ: Chinese middle class to double spending by 2030

Australia’s wine exports booming

Australia’s wine exports are experiencing their strongest growth in eight years, according to this Business Insider article. The article reports that Asia is the top region for Australian wine exports by value, growing 31% to a record of $644m.

Business Insider: Infographic: Asia’s love for Australian wine has made exports boom

SMEs can change the world

The World Economic Forum looks at the recently published SME Competiveness Outlook by the International Trade Centre, which suggests SMEs are the missing link to inclusive growth.  The report highlights country-specific constraints on business success that may hinder international competitiveness.

Japanese pop-idol group promotes the Australian working holiday visa

Tourism Australia has partnered with one of Japan’s largest broadcasters, TBS, to showcase Australian working holiday experiences with a Japanese pop-idol group, KAT-TUN. Currently 20,000 Japanese take up Australian working holiday visas annually and the latest campaign hopes to further boost these numbers.

Tourism Australia: New working holiday maker promotion in Japan

B20 release Trade Taskforce policy paper

The B20 Trade Taskforce’s policy paper suggests international actions to accelerate the current slow levels of trade growth. Recommendations include ratifying and implementing WTO’s Trade Facilitation Agreement by the 10th WTO Ministerial Conference in Nairobi in December, or committing to the earliest deadline, to show leadership to other WTO members.

B20 Turkey: B20 Trade Taskforce policy paper

WTO: Australia’s September merchandise trade

The WTO has updated its monthly merchandise trade values for approximately 70 economies, including Australia. The data shows that merchandise imports for Australia in September 2015 were valued at over US$17.0b.

WTO: Monthly merchandise trade value

Exporting to South Korea: Free eBook for SMEs

Efic has released a new e-Book, Exporting to South Korea, as part of its SME Information Series. This e-book provides helpful guidance which businesses can take advantage of, for operating successfully in the South Korean market.

Efic: Exporting to South Korea

Did you know…

Around 90% of global trade by weight and volume still goes by sea?

Upcoming trade events

North Asia Free Trade Agreements Information Seminars: QLD ǀ NSW ǀ NT

If you are a current or prospective exporter don’t miss these free, interactive sessions which explain practical benefits your business could realise from Australia’s historic FTAs with our three largest export markets – China, Japan and Korea.

Register: North Asia FTA information seminars

Free Trade Agreement Training Provider Grant Information Sessions: VIC | QLD | NSW

If you are a member-based business organisation and interested in running FTA training for your members, attending this information session will assist you in making an informed decision on whether you can apply for an FTA Training Provider Grant. Further sessions will be run in Brisbane, Sydney and Canberra.

Register: FTA Training Provider Grant Information Sessions

Last Updated: 22 October 2015