Home > 2024 > Trade Update – 09th February 2024: AUSTRALIAN CALL FOR INDEPENDENT FTA REVIEWS, GLOBAL MEETING RUSH CONTINUES BEFORE SUMMIT, AUSTRALIA REFUSES NEW EXPORT PERMIT and many more…

Trade Update – 09th February 2024: AUSTRALIAN CALL FOR INDEPENDENT FTA REVIEWS, GLOBAL MEETING RUSH CONTINUES BEFORE SUMMIT, AUSTRALIA REFUSES NEW EXPORT PERMIT and many more…

Trade Update – 09th February 2024: AUSTRALIAN CALL FOR INDEPENDENT FTA REVIEWS, GLOBAL MEETING RUSH CONTINUES BEFORE SUMMIT, AUSTRALIA REFUSES NEW EXPORT PERMIT and many more…

Weekly trade review provided by Chatto Creek Advisory Pty. 

Chatto Creek Advisory Pty Ltd is a Melbourne-based strategic consultancy specialising in trade policy advice and government engagement strategy. It is headed by Russell Scoular, an executive with rich government relations, trade policy, and business experience throughout the Asia Pacific.


 

AUSTRALIAN CALL FOR INDEPENDENT FTA REVIEWS: Parliament’s Joint Trade & Investment Committee has published an interim report calling for independent reviews of trade agreements. It also calls for a legislated trade advisory committee and greater stakeholder transparency during FTA negotiating phases.

 

GLOBAL MEETING RUSH CONTINUES BEFORE SUMMIT: A rush of global meetings continue ahead of the WTO’s 13th Ministerial Conference in Abu Dhabi on 26-29 February. These include Trade Ministers from the Ottawa Group exploring agriculture reform on February 1 and G7 Trade Ministers meeting on February 7.

 

AUSTRALIA REFUSES NEW EXPORT PERMIT: The Department of Agriculture has declined a re-export application for a livestock consignment on board the MV Bahijah. The stock will now need to be unloaded from the ship. It was earlier ordered back to Australia following its diversion from the disputed Red Sea.

 

INDIA TO HOST EU TRADE TALKS: A 7th round of FTA negotiations between India and the EU is scheduled to be held in New Delhi between February 19 and 23. There is currently no date for a 6th round investment agreement negotiation as the EU IS still awaiting a response by India to its dispute settlement proposals.

 

NEW ZEALAND GETS CLOSER TO FTA RATIFICATION: New Zealand is progressing its ratification of the NZ-EU Free Trade Agreement with Parliament this week holding its first reading of the agreement’s enabling legislation. The Government hopes to complete the parliamentary processes by May.

 

US FOCUSES ON SAFETY OF PIRATED GOODS: The Office of the US Trade Representative has published its 2023 Review of Notorious Markets for Counterfeiting and Piracy. The report included a review of the risks of such goods saying lower quality materials and lack of safety controls led to often dangerous products.

 

AUSTRALIA’S LUNAR BIOSECURITY WARNING: The Department of Agriculture has warned Lunar New Year travellers to Australia to be aware the economy’s strict biosecurity regulations when seeking to bring gifts into the country. It suggested travellers could avoid biosecurity issues by purchasing gifts in Australia.

 

INDIA & UAE TO SIGN MAJOR INVESTMENT TREATY: India and the United Arab Emirates are expected to sign a major bilateral investment treaty when Prime Minister Modi visits next week. While in Dubai, Modi will deliver a keynote address to the World Government Summit on February 14.

 

US REJECTS DUMPING DUTIES ON TIN PLATE PRODUCTS: The US International Trade Commission has ruled US industry is not materially injured by imports of tin mill products from Canada, China, South Korea and Germany. It means there will be no anti-dumping or countervailing duties imposed on the products.

 

AUSTRALIAN CHAIR FORECASTS E-COMMERCE AGREEMENT: A 2nd round of 2024 WTO negotiations for a future e-commerce trade agreement is to be held from 11-14 March. Following the recent 1st round in 2024 Australian WTO Ambassador James Baxter forecast an agreement was possible in the coming months.

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