PBEC Trade Report

12 Sep: PBEC Trade Report September 2021

Issue: 010: AUSTRALIA INTRODUCES RCEP LEGISLATION: Legislation to enable the ratification of the RCEP FTA has been introduced to the Australian Parliament. This followed a recommendation by the Treaties Committee that Australia ratify the mega (ASEAN + Australia, China, Japan, Korea and NZ) free trade agreement. UK FACES KEY ASIA PACIFIC MEETING: The CPTPP Accession Working Group’s first meeting to consider the UK’s bid to join the mega trade agreement will be held in the coming weeks. This follows last…

22 Aug: PBEC Trade Report August 2021

Issue: 009: AUSTRALIA’S WINE APPEAL BEGINS: Australia’s complaint action at the WTO over China’s anti-dumping duties on wine is underway. Consultations between the two economies were held on August 9. A Dispute Panel will next hear and rule on a complaint by Australia that China has breached global trade rules. NEW ZEALAND APPOINTS NEW TRADE GROUP: Trade Minister O’Connor has appointed a new Trade Ministerial Advisory Group to advise on the implementation of the government’s “Trade for All” policy agenda….

20 Jul: PBEC Trade Report July 2021

Issue: 008: APEC LEADERS SEEK REFUGE IN TRADE FOR COVID RECOVERY: Leaders of the APEC economies have met virtually on 16th July and agreed to work together to facilitate the movement of goods and services. In a post-meeting statement, they acknowledged the importance of trade in combatting the far-reaching impacts of COVID-19. TRUMP’S CHINA TARIFFS NEAR $100 BILLION: US Customs trade statistics have reported $96 billion of penalty duties on goods from China since President Trump imposed Section 301 penalties….

20 Jun: PBEC Trade Report June 2021

Issue: 007: AUSTRALIA & UK CONCLUDE FTA: Prime Ministers Morrison and Johnson have reached an agreement in principle for an historic bilateral FTA. The FTA was reached over dinner at 10 Downing Street. The FTA is the UK’s first comprehensive trade agreement since leaving the EU. It expected to come into force in 2022. AUSTRALIAN FARMERS TO PROGRESSIVELY GET BETTER ACCESS: Australian farmers will progressively get better market access to the UK under the bilateral FTA. British farmers will be…

18 May: PBEC Trade Report May 2021

Issue: 006: AUSTRALIA KEEPS UP WTO ENGAGEMENT: Foreign Minister Payne has met with WTO director-general Ngozi Okonjo-Iweala to discuss the economic response to COVID-19, equitable vaccine access and women’s economic security. Trade Minister Tehan and the new global trade leader met three weeks ago. INDIA & UNITED KINGDOM LAUNCH TRADE PARTNERSHIP: Prime Ministers Modi and Johnson met virtually during the week and launched an Enhanced Trade Partnership. They agreed to work on a path toward a comprehensive FTA and established…

08 Apr: PBEC Trade Report April 2021- Part II

Issue: 006: AUSTRALIA INVITES RCEP SUBMISSIONS: The Australian Parliament’s Joint Treaties Committee has invited public submissions as part of its ratification review of the ASEAN+5 RCEP FTA. Submissions to the parliamentary committee are due by April 16. Japan’s Parliament has also begun its ratification. BIDEN DEMANDS BUY AMERICAN FOCUS: President Biden has this week directed each of his Cabinet to examine their department expenditures and to ensure they were following the new administration’s Buy American Policy. The Buy American Policy…

01 Apr: PBEC Trade Report April 2021

Issue: 005: AUSTRALIA’S CHINA WINE DISPUTE HEADED TO WTO: A WTO Dispute Panel is likely now that China has hiked five-year anti-dumping duties on Australian wine to between 116 and 218 per cent. Trade Minister Tehan described China’s action as “extremely disappointing and completely unjustifiable.” AUSTRALIAN PRODUCERS RESPOND TO CHINA HIT: Australian wine producers are responding to China’s anti-dumping duties by chasing new markets. Industry leader Tony Battaglane said wine producers would now focus on growing demand for Australian wine…

09 Mar: PBEC Trade Report March 2021 – Part 2

Issue: 004: CHINA REPEATS INTEREST IN MEGA FTA: China has repeated its interest in the Trans-Pacific Partnership (CPTPP) saying it is actively considering making a membership bid. The comment was made by Premier Li Keqiang while presenting the government’s work report to the 13th National People’s Congress. AUSTRALIA FILES SUGAR SUBMISSION: Australia has filed a second written submission to the WTO Dispute Panel hearing its complaint against India’s sugar subsidies. Australia claims India has responded to its claims with unpersuasive…

16 Feb: PBEC Trade Report March 2021

Issue:003 WTO APPOINTS NEW DIRECTOR-GENERAL: Ngozi Okonjo-Iweala has this week become the first woman and the first African to lead the World Trade Organization. Her appointment was ratified by the WTO General Council. She will take up the global trade role on March 1. Her term will expire in August 2025. AUSTRALIAN INQUIRY DELAYED: Australia has delayed for a 3rd time its reporting dates for a dumping and subsidy inquiry into precision pipe and tube steel from China, Korea, Taiwan…

03 Feb: PBEC Trade Report February 2021

Issue:002 ANZAC TRADE MINISTERS TO TALK: Australia & New Zealand Trade Ministers Tehan and O’Connor are to have their first bilateral talks this week. It follows contentious comments by NZ’s O’Connor on how Australia could repair its trade relations with China. Tehan told the ABC he was grateful O’Connor had called him to clarify the comments. UK ASKS TO JOIN PACIFIC FTA: The UK requested on Monday 1st Feb 2021 to join the Trans-Pacific Partnership (CPTPP). It will be the…