Minister Ciobo’s visit to Hong Kong
Minister Ciobo focused on Australia’s world-class services exports and credentials as an investment destination, in a speech in Hong Kong this week. The rise of services exports as Australia’s next growth driver is an emerging feature of the Australian economy. The unparalleled services access our FTAs with China, Japan and Korea are delivering is set to provide a further boost.
Austrade report into opportunities in China’s health and aged care sectors
Austrade’s new report Health and aged care industry in China: A guide for Australian business offers practical advice, facts and insights on China’s health and aged care sectors. The report identifies four key business development opportunities of interest to Australian businesses. Australian medical services providers can now establish wholly-Australian owned aged care facilities in China as a result of the China Australia FTA.
Trans-Pacific Partnership Agreement
The Parliamentary Joint Standing Committee on Treaties has commenced its TPP inquiry and has announced a schedule of hearings for the inquiry. A separate Senate Foreign Affairs, Defence and Trade References Committee TPP inquiry has also commenced. The TPP is an ambitious regional FTA with 11 other Asia-Pacific economies that includes significant new market access opportunities for Australian exporters of goods and services, as well as investors.
State & Territory trade data: new product released
Two new State and Territory merchandise pivot tables and a user guide are now available on the DFAT website. The pivot tables are a useful tool that provides ABS merchandise export and import data by all States and Territories by commodity, across all partner countries and selected country groups.
DFAT: Pivot Tables
RBA analysis of the economy beyond the mining boom
Reserve Bank of Australia Assistant Governor (Economic) reviews the Bank’s expectations during and after Australia’s mining investment boom and concludes that the Australian economy has performed well compared to other advanced economies over the past decade. The drag on growth from declining mining investment is now waning and terms of trade are forecast to remain around their current levels.
ECA: Australian companies risk missing ASEAN opportunity
A new report released by the ECA and HSBC this week highlights that Australian companies need to change their mindset if they are to capitalise on the significant opportunities offered by the fast-growing ASEAN market. The ASEAN Connected report includes a detailed examination of six key ASEAN markets and the results of a survey which found Singapore, Indonesia and Malaysia topping the list of the most attractive for Australian companies.
Trade agreements, globalisation and inequality: World Bank view
World Bank Group Senior Director for Trade and Competitiveness Anabel Gonzalez highlights the essential role of international trade in supporting growth, development and poverty reduction around the world in this Q&A. With multilateral cooperation and economic integration at their core, trade agreements are identified as tools that can improve the management of globalisation and the delivery of its benefits.
World Bank: Full Article
Did you know?
In 2015, 41% of Australia's goods exports left from WA; 20% from QLD; 15% from NSW. For goods imports, approximately 39% arrived in NSW, 26% in VIC and 14% in both QLD & WA.
Upcoming Trade Events
Lowy Lecture Series: Treasurer of Australia
Sydney NSW, 30 September 2016
Treasurer and former Managing Director of Tourism Australia, The Hon Scott Morrison MP, will address the importance of trade, investment, and positive immigration policies to Australia’s economic future.
Austrade: North Asia Free Trade Agreements Information Seminar
Mooloolaba QLD, 5 October 2016
Participants will learn about Australia’s FTAs with China, Korea and Japan and how to obtain their benefits. Trade experts from the Department of Foreign Affairs and Trade and Austrade as well as other relevant departments will be on hand to answer your questions.
Australia China Business Council September SME Roundtable
Sydney NSW, 6 October 2016
The Australia China Business Council's SME Roundtables provide an opportunity to discuss doing business in China and hear practical advice from knowledgeable and experienced ACBC members. This event is free of charge and will take place from 8 to 9am.
Business SA: FTA Training Courses
Various locations SA, 24 October 2016 onwards
Business SA is offering training under the Federal Government’s Free Trade Agreement Training Provider Grant Program to assist companies to grow their business with China, Japan and Korea. The half-day training sessions are tailored for SMEs and will cover tariff classifications, rules of origin, export logistics, legal obligations and export financing.
Tourism Australia: Industry Briefing
Hobart TAS, 4 November | Adelaide SA, 10 November | Sydney NSW, 15 November 2016
Tourism Australia’s industry briefings feature presentations from TA’s senior executives covering current and future activities. Participants will hear TA’s insights and research from key international markets for each local audience.