Trade Talk brings you a selection of the latest trade news from Australia and the world.
Volume of resource exports in 2013 grows at double the annual rate of previous decade
The volume of Australia's resource exports grew over 10% in 2013, almost double the annual rate of the last decade according to DFAT's publication, Composition of Trade. This shows the resources boom moving from the investment to the production phase. The total value of Australia's exports rose 6% in 2013.
Trade Minister welcomes coal and rail project environmental approval
The $16.5 billion Carmichael Coal Mine and Rail Infrastructure project in Queensland has been given environmental approval. The project is projected to produce 60 million tonnes of thermal coal per year and to add $2.97 billion to the Queensland economy each year.
TIM Media Release: Robb welcomes Adani coal and rail project approval
Italian fashion looks to Australian wool
Italian men's label, Ermenegildo Zegna, has taken a 60% stake in Australian wool producer Achill, giving it a complete wool supply chain from raw material to finished suit. Australia attracted US$171 billion in net foreign direct investment flows in the 3 years to 2013, up 55% from the previous 3 years.
Austrade News: Italy’s Ermenegildo Zegna in joint venture with Australian wool property Achill
Australia-UK trade and investment
Austrade's Trade and Investment Commissioner for the UK, David Crook, discusses Australia's trade and investment relationship with the Director General for UK Trade and Investment in Australia, Nick McInnes. In 2013, the UK was Australia's 7th largest trading partner, with two-way trade valued at $20 billion.
Austrade YouTube: Australia-UK trade and investment
OECD Economist warns on risks still facing global economy post GFC
A senior OECD economist has warned on risks facing the global economy, including the growth of emerging economies. “Imagine in the future that the OECD is only 10% of the world economy and emerging markets are 90%. Is 90% of the world economy going to be able to have export-led growth to 10% of the world economy?”
ABC: Australia more vulnerable to risks than before global financial crisis, OECD economist says
Chinese financial assistance to boost intra-regional trade in South Asia
Since the mid-2000s, the South Asian region has witnessed a rise in Chinese financial assistance. This piece argues that Chinese financial assistance can contribute to stimulating trade in South Asian countries by enhancing the production base, supply capacity and local connectivity.
East Asia forum: Chinese financial assistance to boost intra-regional trade in South Asia
Share your trade selfie
The WTO wants you to take a selfie! Your selfie should tell your trade story and show how trade has an impact on your daily life. Send your selfie to firstname.lastname@example.org by 1 September.
WTO News: WTO launches “trade stories” selfie competition
Did you know?
Australia exported over $8 billion of gold to the UK in the three years to 2013, much of which we expect to bring home from the Commonwealth Games in Scotland!
Trade articles sourced from non-Australian Government sources do not necessarily reflect the views of the Australian Government.