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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. The group’s 13-person membership includes business, civil society and Maori representatives.

AUSTRALIA & INDIA PREPARING FOR FTA TALKS: Australia and India are on the cusp of resuming FTA talks after a 6-year break. Chief negotiators were to talk this week for the second time in a fortnight. Trade Ministers Tehan and Goyal will then follow as the two governments set a framework for resuming talks.

JAPAN EXTENDS ANTI-DUMPING DUTIES: Japan has announced a five-year extension of anti-dumping duties on potassium hydroxide imported from Korea and China. The duties of 49.5% from Korea and 73.7% from China began in 2016. Japan feared dumping and industry injury in the absence of a duty extension.

AUSTRALIA DELAYS INQUIRIES: Australia has extended the deadlines for two anti-dumping inquiries involving clear float glass. The deadline for a continuation final report on glass from China, Indonesia and Thailand has been extended to September 8 and for glass from Malaysia and the UAE to January 19.

INDIA LISTS TRADE PRIORITIES: Commerce Secretary B V R Subrahmanyam has told industry leaders that India is preparing to fast-track, and in some cases resume, negotiations for at least six FTAs. The Business Standard reported the priorities would include the UAE, United Kingdom, Australia, Canada and the EU.

JAPAN BACKS THAI FTA INTEREST: Japan has reaffirmed its full support for Thailand’s in-depth study to assess its readiness to join the CPTPP FTA. In a joint statement from last week’s 5th meeting of the Japan- Thailand High Level Joint Commission, Japan also welcomed Thailand’s progress to ratify the RCEP FTA.

PHILIPPINES ENDS CAR SAFEGUARD DUTIES: The Philippines has ended safeguard duties on motor vehicles after a Tariff Commission inquiry found there had been no increase in imported vehicles during the review period. The duties of up to approx. $US2200 per vehicle were imposed earlier this year.

AUSTRALIAN EXPORT GRANTS NOW OPEN: Australia’s revised Export Market Development Grant Program is now open for funding applications. The program will now provide funding on a forward-looking grant basis. Eligible businesses can receive grants of up to $150,000 per financial year.

NEW KOREAN MINISTER SUCCEEDS WTO CANDIDATE: South Korea has appointed Yeo Han-koo as its Minister of Trade. He replaces Yoo Myung-hee who unsuccessfully sought leadership of the WTO in 2021. An early call between Yeo and USTR Tai focussed on WTO reform and the US-Korea trade relationship.

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