PBEC Trade Report

Issue: 006: AUSTRALIA KEEPS UP WTO ENGAGEMENT: Foreign Minister Payne has met with WTO director-general Ngozi Okonjo-Iweala to discuss the economic response to COVID-19, equitable vaccine access and women’s economic security. Trade Minister Tehan and the new global trade leader met three weeks ago. INDIA & UNITED KINGDOM LAUNCH TRADE PARTNERSHIP: Prime Ministers Modi and Johnson met virtually during the week and launched an Enhanced Trade Partnership. They agreed to work on a path toward a comprehensive FTA and established a target of more than doubling India-UK trade by 2030. AUSTRALIAN OFFICIALS MEET WITH PARLIAMENTARY COMMITTEE: Officials from the Ministry...

Issue: 006: AUSTRALIA INVITES RCEP SUBMISSIONS: The Australian Parliament’s Joint Treaties Committee has invited public submissions as part of its ratification review of the ASEAN+5 RCEP FTA. Submissions to the parliamentary committee are due by April 16. Japan’s Parliament has also begun its ratification. BIDEN DEMANDS BUY AMERICAN FOCUS: President Biden has this week directed each of his Cabinet to examine their department expenditures and to ensure they were following the new administration’s Buy American Policy. The Buy American Policy was one of the new administration’s first policy initiatives. AUSTRALIA LAUNCHES NEW TRADE INITIATIVES: Trade Minister Tehan has launched a...

Issue: 005: AUSTRALIA’S CHINA WINE DISPUTE HEADED TO WTO: A WTO Dispute Panel is likely now that China has hiked five-year anti-dumping duties on Australian wine to between 116 and 218 per cent. Trade Minister Tehan described China’s action as “extremely disappointing and completely unjustifiable.” AUSTRALIAN PRODUCERS RESPOND TO CHINA HIT: Australian wine producers are responding to China’s anti-dumping duties by chasing new markets. Industry leader Tony Battaglane said wine producers would now focus on growing demand for Australian wine in other markets across Asia, Europe, USA and UK. USTR TRADE MEETINGS BY VIDEO: United States Trade Representative Katherine Tai...

Issue: 004: CHINA REPEATS INTEREST IN MEGA FTA: China has repeated its interest in the Trans-Pacific Partnership (CPTPP) saying it is actively considering making a membership bid. The comment was made by Premier Li Keqiang while presenting the government’s work report to the 13th National People’s Congress. AUSTRALIA FILES SUGAR SUBMISSION: Australia has filed a second written submission to the WTO Dispute Panel hearing its complaint against India’s sugar subsidies. Australia claims India has responded to its claims with unpersuasive legal arguments based on misrepresentations of global trade rules. SWISS VOTE FOR INDONESIAN FTA - JUST: A Swiss referendum last...

Issue:003 WTO APPOINTS NEW DIRECTOR-GENERAL: Ngozi Okonjo-Iweala has this week become the first woman and the first African to lead the World Trade Organization. Her appointment was ratified by the WTO General Council. She will take up the global trade role on March 1. Her term will expire in August 2025. AUSTRALIAN INQUIRY DELAYED: Australia has delayed for a 3rd time its reporting dates for a dumping and subsidy inquiry into precision pipe and tube steel from China, Korea, Taiwan and Vietnam. COVID-19 has been blamed for the delays. Inquiry recommendations will now be made by July 2; 10 months...

Issue:002 ANZAC TRADE MINISTERS TO TALK: Australia & New Zealand Trade Ministers Tehan and O’Connor are to have their first bilateral talks this week. It follows contentious comments by NZ’s O’Connor on how Australia could repair its trade relations with China. Tehan told the ABC he was grateful O’Connor had called him to clarify the comments. UK ASKS TO JOIN PACIFIC FTA: The UK requested on Monday 1st Feb 2021 to join the Trans-Pacific Partnership (CPTPP). It will be the first non-Asia Pacific economy to join. Its membership bid will be reviewed by a working party of existing members. This...

Issue: 001 MALAYSIA LAUNCHES PALM OIL DISPUTE ACTION: Malaysia has launched WTO dispute action against palm oil restrictions by the EU. This follows earlier dispute action by Indonesia. Malaysia is the world’s second largest producer of palm oil. Its complaint is the 600th trade dispute brought before the WTO. AUSTRALIAN INDUSTRY CALLS FOR NEW MARKETS: Australian Industry Group leader Innes Willox has called on industry and government to work together to identify new markets. Writing in The Australian he said Australia should not respond to China’s trade bullying by caving on its core beliefs and principles. TRUMP’S CHINA TARIFFS HIT...