Trade Talk, 30 October 2014

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

30 October 2014

TPP negotiations take place in Australia, Ministers report significant progress

The Ministers and Heads of Delegation of the countries negotiating the TPP met in Sydney last week. Significant progress was made, including on negotiations on market access trade and investment rules. There is a real sense that the finish line is within reach.

TIM Media Release: Statement of the Ministers and Heads of Delegation for the Trans-Pacific Partnership countries

Record international visitor spend in Australia

International visitors spent a record $30.1 billion in Australia in 2013-14, up 7% on 2012-13. “This is a vote of confidence in Australia’s tourism sector which is well placed to experience strong continued growth,” said Minister Robb. More than 920,000 jobs (direct and indirect) in Australia are linked to tourism.

TIM Media Release: Record expenditure drives positive outlook for Australian tourism

Minister Robb welcomes JSCOT backing of landmark Japan-Australia trade agreement

The Joint Standing Committee on Treaties (JSCOT) has tabled a report on the Japan-Australia Economic Partnership Agreement (JAEPA) in Parliament, supporting the agreement. Legislation to implement JAEPA has now been introduced into Parliament.  JAEPA remains on track to enter into force in early 2015.

TIM Media Release:  Robb welcomes JSCOT backing of landmark Japan-Australia trade agreement

Reforms to boost the venture capital sector

Investing an additional few hundred million dollars a year in the Australian venture capital space could be transformational for the economy. Australia is known to produce world-leading technologies through its research, but has often struggled to commercialise them at home for lack of development funding.

TIM Op Ed: Reforms sure to boost the venture capital sector

Andrew Robb and Alan Jones on foreign investment

Trade Minister Robb exchanged views on foreign investment with Alan Jones during a radio interview. When pressed on foreign investment in Australia’s agricultural sector Mr Robb said “I’ve had 30 years in and around the rural sector and we’ve developed agriculture on waves of foreign investment”.

The Land: Robb defends foreign investment

The Lowy Institute examines G20 members' policies to achieve growth

This issue of the G20 Monitor provides a guide to the policies that G20 members will have to tackle to achieve the G20’s 2% growth target, a key initiative of Australia’s G20 Presidency. The issue draws on the recommendations of the IMF, OECD and a number of international think tanks.

Lowy Institute: G20 Monitor: The G20’s growth agenda

China tariffs impose new headwinds for Australian coal exports

China’s decision to reinstate coal import tariffs places new pressure on Australian exporters already hampered by lower prices and cost competitiveness. Unless Australia can negotiate an exemption from the new tariff regime in our 2nd largest coal export market, further Australian mine closures are likely.

EFIC: EFIC Export Monitor

ICC Cricket World Cup 2015 to promote international business links

Trade and Investment Minister Andrew Robb launched the Match Australia sports business program last week. Match Australia will link Australian firms with business partners during a series of major sports and cultural events in Australia.

TIM Media Release: ICC Cricket World Cup 2015 to promote international business links

Can plurilateralism save the Bali agreement on trade facilitation?

The members of the WTO have been unable to agree on a protocol for the package of trade accords concluded at the WTO’s Bali Meeting. In this policy brief, the author asks if the countries which support implementation of the agreement on trade facilitation should now find an alternative way forward.

ECIPE: Can Plurilateralism Save the Bali Agreement on Trade Facilitation?

Did you know?

Howzat!? Australia imported approximately 196,000 regulation cricket bats in 2013, valued at over $5.9 million. Top import sources included India, the UK and Pakistan.

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

Last Updated: 30 October 2014