PBEC Trade Report

16 Jun: PBEC Trade Report June 2022

Issue: 021: June 2022 AUSTRALIAN MINISTER JETS TO INDONESIA: Trade Minister Farrell made his first overseas trip this week when he joined Prime Minister Albanese in Jakarta. Prior to the three-day visit, Senator Farrell said the new government would deliver on the economic expansion promised in the Indonesia-Australia FTA. TRADE MINISTERS HEAD FOR GENEVA: Trade Ministers will be in Geneva this week for a 12th WTO Ministerial Conference. The conference, usually held every two years, was last held in Buenos…

29 May: PBEC Trade Report May 2022

Issue: 020: May 2022 APEC TRADE WALK-OUTS: Five economies – Australia, Canada, Japan, NZ and the US – briefly walked out of the APEC Trade Ministers meeting in Bangkok while a Russian delegate spoke. Russia later retaliated when the US spoke. The meeting could not agree on a communique, but a chairman’s statement was later issued. RUSSIA UNDER FIRE IN BANGKOK: A statement by seven economies at the APEC Trade Ministers meeting condemned Russia’s invasion of Ukraine. While acknowledging unwavering…

29 Apr: PBEC Trade Report April 2022 – Part II

Issue: 019: April 2022 INDONESIA BANS EXPORT OF PALM OIL: Indonesia has for the second time this year banned palm oil exports. The latest ban took effect today and is a bid by the world’s largest producer to lower domestic prices of cooking oils. Edible oil supplies have been significantly impacted by the Russia-Ukraine war. AUSTRALIA IMPLEMENTS URGENT BIOSECURITY ACTION: Australia has imposed new biosecurity import rules in a bid to protect farmers against khapra beetle. The beetle is an…

26 Apr: PBEC Trade Report April 2022

Issue: 018: April 2022 SOUTH KOREA TO MAKE FTA BID: South Korean media are reporting the economy will soon file a formal membership bid for the CPTPP FTA. The CPTPP has been signed by 11 economies including Australia, Canada, Japan, NZ and Singapore. The UK, China, Ecuador and Taiwan have also flagged interest in joining. ASEAN LEADERS HEAD TO THE WHITE HOUSE: Leaders of ASEAN will be in Washington DC on May 12 and 13 for a US-ASEAN Special Summit….

24 Mar: PBEC Trade Report March 2022

Issue: 017: March 2022 AUSTRALIA EXPANDS INDIA TIES: As negotiators inch toward an interim trade deal and Prime Ministers Morrison and Modi meet in a virtual summit, Australia has announced $132 million of India initiatives including an increased Austrade presence in India and new key minerals and technology partnerships. TRADE MINISTERS TO BOOST SUPPLY CHAIN RESILIENCE: Trade Ministers Tehan, Goyal and Koichi from Australia, India and Japan have agreed to further develop a trilateral supply chain initiative. They tasked Austrade,…

17 Feb: PBEC Trade Report February 2022

Issue: 016: February 2022 AUSTRALIAN & INDIA LOOK FOR “LIGHT FTA” IN 30 DAYS: Trade Ministers Tehan and Goyal met in Delhi during the week and agreed to conclude an interim FTA within 30 days. It is expected the interim agreement will be signed in March. A comprehensive agreement is to be completed within 12 months. US CONFIRMS APEC HOSTING: The US confirmed this week that it would host APEC in 2023. It has also named Matt Murray as its…

25 Jan: PBEC Trade Report January 2022

Issue: 015: January 2022 CHINA’S BID LIKELY TO BE DELAYED: The WTO’s Dispute Body’s agenda for this week includes China’s bid for a WTO Dispute Panel to review Australian dumping duties on stainless steel sinks, railway wheels and wind towers. It is usual for respondents to get a delay of at least a month by arguing a panel is premature. MALAYSIA RATIFIES RCEP FTA: Malaysia has become the 12th economy to ratify the RCEP FTA. The world’s largest FTA will…

22 Dec: PBEC Trade Report December 2021 – Part II

Issue: 014: SOUTH KOREAN PRESIDENT VISITS AUSTRALIA: President Moon visited Australia this week to boost trade, clean energy and defence relations between the economies. During the visit, which included meetings with business leaders, the two economies elevated their relationship to a Comprehensive Strategic Partnership. CHINA REACHES 20 YEARS: The WTO recognised the 20th anniversary of China’s membership by hosting a high-level forum. China became the 143rd member in December 2001. WTO director-general Ngozi Okonjo-Iweala described China’s accession as a “pivotal…

28 Nov: PBEC Trade Report December 2021

Issue: 013: AUSTRALIA’S NO TO CHINA: Prime Minister Morrison has flagged Australia is unlikely to support China’s bid to join the CPTPP FTA. He told a news conference this week that those seeking to become part of a high standard agreement like CPTPP would not want to have a track record of coercing other trade partners. WTO LAUNCHES VACCINE TRADE TRACKER: The Word Trade Organization and International Monetary Fund have this week launched a new vaccine trade tracker. The tracker…

30 Oct: PBEC Trade Report November 2021

Issue: 012: AUSTRALIA-EU TRADE TALKS DELAYED: A 12th round of Australia-EU FTA talks has now been delayed until February 2022. They were to be held in October but were delayed for a month following the cancellation of a submarine contract with France. In the meantime, chief negotiators will meet in December. CHINA MAKES FURTHER TARIFF PLEA: China’s Vice Premier Liu has again used a high-level US call to seek the removal of additional tariffs imposed by the Trump Administration. Liu’s…