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PBEC Trade Report July 2022

Issue: 022: July 2022

ANZAC EYES ON FRANCE: Australia and NZ face new political dynamics in France as they pursue FTAs with the EU after the success of protectionist parties in last week’s parliamentary elections. Prime Ministers Albanese and Ardern are meeting President Macron and EU President von der Leyen respectively this week.

WTO REPORTS BOOST IN SERVICES TRADE: The WTO has reported a continued recovery in global services trade despite the Ukraine conflict. Its latest index reading of 105.5 compared to a reading of 102.5 in September 2021. Passenger air travel reported the strongest sectoral gain between the two readings.

US BUSINESS SEEKS TAIWAN FTA: The American Chamber of Commerce in Taipei has called on the US to begin bilateral FTA trade negotiations with Taiwan. The call was included in a White Paper and was made only days before US-Taiwan trade facilitating talks which are to be held in Washington DC this week.

AUSTRALIA APPOINTS NEW TRADE BOSS: Prime Minister Albanese has appointed Jan Adams as Secretary of the Department of Foreign Affairs and Trade. She succeeds Kathryn Campbell as the top bureaucrat for foreign and trade policies. Adams has served as ambassador to China and Japan and as a top trade official.

THAILAND RESUMES EFTA FTA NEGOTIATIONS: Thailand and the European Free Trade Association – Norway, Switzerland, Iceland and Liechtenstein – have this week resumed FTA negotiations in Bangkok. This follows a 16-year hiatus since their last FTA negotiations stalled after two rounds of talks.

EU PURSUES GREENER TRADE AGREEMENTS: The EU plans to use its trade agreements to secure greener and more sustainable outcomes. A new plan focusses on negotiating tailored objectives and time-bound roadmaps within trade agreements for enhanced climate, environment and labour rights outcomes.

TAIWAN GETS NEW BEEF BID: Taiwan is reviewing an application by Lithuania to export beef to the island economy. It follows a meeting in March where the economies agreed to promote agricultural trade. China earlier this year banned a range of Lithuanian agriculture exports over the latter’s relationship with Taiwan.

AUSTRALIA ENDS UAE GLASS INQUIRY: Australia has ended an inquiry into the alleged dumping of clear float glass from the United Arab Emirates. This followed a finding that any injury to Australian industry was negligible. The Commission earlier ended dumping and subsidy inquiries involving glass from Malaysia.

NEW ZEALAND INTRODUCES FTA LEGISLATION: Legislation has been introduced to Parliament to ratify theNZ-UK Free Trade Agreement. The agreement between the two economies was signed in March. New Zealand plans to have its ratification of the agreement completed by the end of the year.

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