PBEC Trade Report

Issue: 026: November 2022, Part I PBEC Trade Report November 2022 APEC TO BEGIN KEY MEETINGS: A series of key meetings begin in Bangkok on Sunday with the APEC Business Advisory Council. It will he followed by meetings of government officials, business chief executives and ministers before Thailand’s APEC 2022 culminates with the APEC Leaders’ Summit on November 18-19. CAMBODIA HOSTS RCEP FORUM: Cambodia has hosted a high-level RCEP FTA Forum in Phnom Penh to mark RCEP’s ten-year journey. Indonesian trade official Iman Pambagyo who chaired the RCEP Negotiating Committee for eight years was awarded the “Merit of the Great...

Issue: 025: October 2022 PBEC Trade Report October 2022 INDIA POSTPONES TRADE POLICY: India has postponed a new foreign trade policy and extended its current policy for a further six months. The Ministry of Commerce said the volatile global economic and geopolitical situation meant further consultations were required. A new policy was to be announced on September 30. AUSTRALIAN MINISTER INSISTS ON GREATER FARM ACCESS: Trade Minister Farrell is confident Australia can conclude an FTA with the EU in “good time” while telling the ABC Australia had made it clear it needed greater EU market access for its agriculture produce....

Issue: 024: September 2022 PBEC Trade Report September 2022 INDIA READIES NEW FOREIGN TRADE POLICY: India is finalizing a new foreign trade policy. Commerce Secretary Subrahmanyam was reported by The Hindu that the new policy would be unveiled on September 30. It would be part of a package to boost exports. An FTA with the UK could also be finalised soon. NEW ZEALAND TO REVIEW DAIRY QUOTAS: New Zealand is to review its dairy quota allocation system in ab id to ensure it maximises export returns for its industry. Agriculture Minister O’Connor said new FTAs with the EU and the...

Issue: 023: July 2022 - Part II TRADE OFFICIALS MEET IN SINGAPORE: Trade officials from the US-led Indo-Pacific Economic Framework have met in Singapore. They canvassed a range of topics including trade in a connected economy, supply chain resilience, decarbonization and anti-corruption. A 14-economy ministerial meeting is expected soon. CHINA & SOUTH KOREA PURSUE SERVICES AGREEMENT: China and South Korea held chief delegate-level talks during the week to further pursue the inclusion of services and investment topics within their bilateral free trade agreement. The two economies have held nine negotiating rounds since March 2018. AUSTRALIA STRIVES TO PROTECT FARMERS: Australia...

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...

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 Aires in 2017. Key topics for the trade leaders include fisheries subsidies, agricultural trade and a fully functioning WTO. FARMERS...

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 support for APEC, Australia, Canada, Chile, Japan, Korea, NZ and the US expressed concern at a deteriorating humanitarian situation. APEC...

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...

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...

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...