PBEC Trade Report

AUSTRALIA & CHINA TALK TRADE: Trade Minister Farrell and Commerce Minister Wang met virtually on Tuesday where they co-chaired a 17th Joint Ministerial Economic Commission meeting. Minister Farrell used the forum to resolve outstanding trade impediments affecting rock lobster and red meat trade. NEW ZEALAND LASHES CANADA: Trade Minister McClay is seeking legal advice after accusing Canada of failing to comply with a dairy trade ruling. He described Canada’s refusal to implement the ruling under the CPTPP FTA as cynical. NZ took its obligations seriously and expected others to show the same courtesy. TAIWAN & US MEET FOR TRADE TALKS:...

EU PUBLISHES COMPREHENSIVE CHINA REPORT: The EU has published an update of a 2017 report on state-induced distortions in China’s economy. It aims to provide information for trade remedy inquiries and focusses on China’s support for sectors including new energy vehicles and environmental goods. AUSTRALIAN MINISTER LEADS FIRST DELEGATION: Assistant Trade Minister Ayres has this week led an Australian Business Mission to Singapore and Malaysia. The Business Mission is the first under Australia’s new ASEAN Business Exchange Program and focussed on clean energy and maritime decarbonisation. WTO COMMEMORATES 30 YEARS: The World Trade Organization this week commemorated the 30th anniversary...

AUSTRALIA TO BOOST EXPORT GRANTS: The Government introduced legislation to Parliament this week to streamline and boost the effectiveness of its Export Market Development Program. The major changes to the program include increased grants and earlier access to the funding for successful business applicants. NEW ZEALAND RACES TO IMPLEMENT EUROPEAN FTA: New Zealand’s Parliament has this week been completing the necessary legislative actions to allow ratification of the New Zealand-European Union FTA. New Zealand hopes the FTA can be introduced in May. The EU has previously completed its ratification. AUSTRALIA TO REMOVE WIND TOWER DUTIES: Australia is to remove its...

TRADE MINISTERS HEAD FOR CRITICAL MEETING: Trade Ministers are jetting to Abu Dhabi for next week’s 13th ministerial conference of the WTO. They will confirm the accession of Timor-Leste and debate critical trade issues encompassing topics such as agriculture, fish subsidies, digital trade and dispute resolution. AUSTRALIA TO PUSH NEW FTA: Australia and the UAE are preparing for a 2nd round of negotiations for a comprehensive economic partnership agreement. It follows a first round in January. Trade Minister Farrell will meet his UAE counterpart while in Abu Dhabi for the WTO’s 13th ministerial conference. AUSTRALIA & NZ BACK PACIFIC PARTICIPATION:...

US TO INVESTIGATE APPAREL COMPETITIVENESS: The US International Trade Commission is to investigate the export competitiveness of apparel industries in Bangladesh, Cambodia, India, Indonesia and Pakistan. A public hearing will be held on March 7. The five economies are key sources of apparel for the US market. AUSTRALIAN TRADE AMBASSADOR COMPLETES TERM: Australia’s Ambassador and Permanent Representative to the World Trade Organisation, George Mina, has completed his assignment in Geneva. He took up the position in 2020. He previously served in a range of senior diplomatic and trade roles. IT’S “FISH MONTH” AT THE WTO: The WTO has begun “fish...

AUSTRALIAN PRODUCTIVITY UNDER MICRO-TAX THREAT: A Productivity Commission research paper has suggested an increasingly complex and inefficient tax system risks limiting productivity growth. The paper says the number of sector-specific industry levies had grown from 26 to 248 since 1980. SOUTH KOREA & EU LAUNCH DIGITAL TALKS: Negotiators have been meeting in Brussels this week for the first negotiating round for a South Korea-EU Digital Trade Agreement. Meanwhile South Korea and Indonesia have met this week to review the implementation of their bilateral trade agreement. TAIWAN PURSUES JAPANESE SUPPORT: President Tsai has continued her pursuit of building Japan’s support for...

APEC LEADERS BACK WTO: Leaders of APEC have backed a global trading system with the WTO at its core. In a Golden Gate Declaration in San Francisco they said they were committed to reform of the WTO to improve its function including having discussions to have a fully-function dispute system restored by 2024. IPEF LEADERS MEET: Leaders of the IPEF economies have welcomed the ministerial signing of a supply chain agreement. They also announced the substantial conclusion of negotiations for clean economy and fair economy agreements, launched a critical minerals dialogue and announced a ministerial IPEF Council. AUSTRALIA DELAYS RAILWAY...

AUSTRALIAN FARMERS CALL FOR REVERSAL OF BAN: Australian farming groups have written to Prime Minister Albanese urging the Government to reverse its ending of live sheep exports by sea. They warned of irreversible harm to the farm sector and to Australia’s trade and diplomatic relations in the Middle East. JAPAN & EU LIST MORE PROTECTED PRODUCT NAMES: Japan and the European Union have agreed under their Japan-EU Economic Partnership Agreement to protect a further 42 Geographical Indication names. The latest addition includes Japanese and EU products and adds to an existing list of 375 different products. AUSTRALIA TO RESUME HAY...

PBEC Trade Report July 2023 AUSTRALIAN INDUSTRY CALLS FOR TASMAN TRADE BOOST: The Australian Industry Group has moved to reinvigorate the Australia-NZ Closer Economic Relations Agreement saying decisions by regulators were undermining the agreement. It proposes a Task Force of political, industry and regulatory leaders. INDIA BANS RICE EXPORTS: India has banned the export of non-basmati white rice in a bid to lower prices and boost availability for domestic consumers. The ban was announced with immediate effect during the week. It follows an earlier bid last September to lower prices by imposing a 20% export tariff. SINGAPORE & EU LAUNCH...

PBEC Trade Report June 2023 AUSTRALIA & EU FACING TOUGH WEEKS: Australia and the EU face tough weeks ahead as they seek to resolve contentious issues and deliver an FTA. Following talks in Brussels during the week Trade Minister Farrell told Sky News he would walk away if an FTA “in the interests of Australia” could not be reached. LEADING ECONOMIES CALL OUT COERCION: Australia, New Zealand, US, Japan, UK and Canada met in Paris during the week and issued a joint statement expressing serious concern over the use of trade-related economic coercion to pressure foreign governments and the use...