PBEC Trade Report

PBEC Trade Report April 2022 – Part II

April 29, 2022
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 invasive pest that poses a potential threat to grain. The new rules will require offshore certification for plant products and...
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PBEC Trade Report April 2022

April 26, 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. USTR Tai has meetings with a range of Asian trade leaders this week including Philippines Trade Secretary Lopez, Singapore Finance...
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PBEC Trade Report March 2022

March 24, 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, Invest India and JETRO with boosting trade and investment in key sectors. AUSTRALIA & UAE TO NEGOTIATE FTA: Australia and...
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PBEC Trade Report February 2022

February 17, 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 senior official for APEC. A senior diplomat with the State Department, Murray has previously served in a range of overseas...
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PBEC Trade Report January 2022

January 25, 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 enter into force for Malaysia on March 18. The 15 member economies of the RCEP FTA (ASEAN + 5) represent...
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PBEC Trade Report December 2021 – Part II

December 22, 2021
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 event in the history of the multilateral trading system.” AUSTRALIA’S LOGISTICS SECTOR UNDER FUEL CHALLENGE: Australia has been reaching out...
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PBEC Trade Report December 2021

November 28, 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 aims to provide clearer transparency on the international flow of COVID-19 vaccines and incorporates a range of trade information. INDIA...
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PBEC Trade Report November 2021

October 30, 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 latest bid was made in a call this week with US Treasury Secretary Yellen and follows a similar plea made...
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PBEC Trade Report October 2021

September 29, 2021
Issue: 011: CHINA REACTS TO TAIWAN’S FTA BID: China has responded strongly to Taiwan’s bid to become a member of the CPTPP FTA. Foreign Ministry spokesman Zhao said in Beijing China firmly opposed official interactions with Taiwan and rejected its accession to any agreement or organization of an official nature. JAPANESE AMBASSADOR TALKS FTA WITH AUSTRALIA: Japan’s Ambassador to Australia Shingo Yamagami met with Trade Minister Tehan earlier in the week. In what Yamagami-san later described on Twitter as a “deep discussion,” their talks included the CPTPP FTA. Japan is currently chair of the CPTPP Commission. AUSTRALIAN MINISTER’S MAJOR TRIP:...
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PBEC Trade Report September 2021

September 12, 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 week’s meeting of the CPTPP Commission where economies also agreed to establish an e-commerce committee. WTO REJECTS CHINA’S SOLAR CHALLENGE:...
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