Trade talk 3 April 2014

Foreign Minister advances investment and trade opportunities in Europe

The Foreign Minister travelled to the Netherlands, Switzerland and Poland last week. During her time in Poland and Switzerland she advanced trade and investment opportunities for Australian companies as part of the Government’s focus on economic diplomacy. Switzerland is the fifth largest investor in Australia.

FM Media Release: Investment and Trade opportunities in Europe

Bureau of Resources and Energy Economics: Commodity export earnings to rise

Australia’s resources and energy commodity export earnings are forecast to increase at an average rate of 8% a year to $284 billion in 2018–19. “Higher export earnings will be driven by the growth in volumes of a number of commodities despite near term softness in prices” said BREE Director Bruce Wilson.

BREE Report: Transition to the production phase spurring on export earnings to 2018–19

Barriers to trade hampering world economic recovery

Barriers to trade are holding back the global economic recovery according to the World Economic Forum. Inefficiencies, red tape and poor infrastructure are among key issues preventing economies from reaping the benefits of trade. Australia was ranked 23rd out of 138 economies for its trade enabling efforts.

WEF Report: Failure to Tackle Trade Barriers Puts Economic and Social Progress at Risk

New resource for foreign trade representatives launched

Geneva-based International Trade Centre has launched a new edition of its training guide for foreign trade representatives. It provides guidance for officials representing their countries in trade promotion and negotiations. Former Austrade Senior Trade Commissioner, Lloyd Downey, is the lead author of the guide.

Austrade News: New resource for foreign trade representatives launched

Asian Development Bank sees steady growth for developing Asia

Asia will continue its steady economic growth in 2014 according to the ADB. The ADB predicts developing Asia will achieve GDP growth of 6.2% in 2014 and 6.4% in 2015. This growth is driven in part by higher demand from recovering advanced economies.

ADB Report: ADB Sees Steady Growth for Developing Asia

ADB Infographic: Asian Development Outlook 2014 - Growth Outlook

Cuba approves new foreign investment law

Cuba’s National Assembly unanimously approved a new foreign investment law last week. The law includes cuts to profit tax, income tax exemptions and allows farm co-ops to form joint ventures with foreign investors. Cuba hopes the new law will attract capital, improve growth and create jobs.

Reuters: New Cuba foreign investment law approved

Brookings Institute: Cuba's New Investment Law: Open for Business?

Did you know?

The WTO's Trade Facilitation Agreement may add as much as US$1 trillion to the global economy.

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

Last Updated: 3 April 2014