PBEC Trade Report

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...