Trade Update – 10th November 2023: APEC LEADERS HEAD TO SAN FRANCISCO, INDO-PACIFIC MINISTERS TO MEET IN SAN FRANCISCO, AUSTRALIA-CHINA FTA FORUM TO MEET 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.
APEC LEADERS HEAD TO SAN FRANCISCO: The US will next week host the annual APEC Leaders’ Week. Following the conclusion of an officials meeting on Sunday, Finance Ministers will meet on Monday and Foreign and Trade Ministers on Tuesday and Wednesday. APEC Leaders will meet on November 16 and 17.
INDO-PACIFIC MINISTERS TO MEET IN SAN FRANCISCO: The US will also host a 3rd in-person ministerial meeting of Indo-Pacific Economic Framework economies on November 13 and 14. It will focus on the trade, clean economy and fair economy pillars of the IPEF and follows this week’s 7th in-person negotiating round.
AUSTRALIA-CHINA FTA FORUM TO MEET: The China-Australia FTA Joint Commission is expected to next meet in Australia in 2024 following Prime Minister Albanese’s visit to China. It was established to address issues related to the bilateral FTA. A Commission meeting in Beijing in May was the first held since 2017.
NEW NETWORK TO BOOST COMPETITION: Australia and NZ have joined with the Cook Islands, Fiji, French Polynesia, Kiribati, New Caledonia, PNG, Samoa, Solomon Islands, Tonga and Vanuatu to share information, investigative techniques and best practice by forming a network of consumer and competition regulators.
JAPAN & AUSTRALIA HOLD “CANDID DISCUSSIONS” ON FTA: Foreign Ministers Kamikawa and Wong have met in Tokyo where Japan’s Foreign Ministry reported they had “candid discussions” from a strategic perspective on the CPTPP FTA. It followed Minister Wong’s visit to Beijing with Prime Minister Albanese.
SINGAPORE COURT GIVES PROSECCO RULING: The Court of Appeal has ruled that prosecco can be classified as a GI registration in Singapore. It follows an appeal by an Italian industry group against a High Court ruling in favour of a bid by Australian Grape and Wine to deny the registration of the sparkling wine.
AUSTRALIA & CHINA TO EASE BUSINESS TRAVEL: Australia and China are to to ease business travel by providing multi-entry visas of 3 to 5 years for business travellers and visitors on a reciprocal basis. This was among a suite of outcomes from Prime Minister Albanese’s visit to Shanghai and Beijing during the week.
US PRODUCERS SEEK TO EXPAND DUTIES: The US Trade Commission will hold a conference next week to begin consideration of a bid by US shrimp producers seeking dumping duties on frozen warmwater shrimps from Ecuador and Indonesia and subsidy duties on imports from Ecuador, India, Indonesia and Vietnam.
TAIWAN & UK SIGN TRADE AGREEMENT: Taiwan and the UK signed an Enhanced Trade Partnership Agreement on Wednesday. Its signing coincided with the UK’s 26th Annual Trade Talks with Taiwan in London and will see the two economies focus on two-way investment, digital trade and energy.
MALAYSIA PURSUES HIGH-TECHNOLOGY INVESTMENTS: Trade Minister Aziz has this week been leading a trade and investment mission to the US seeking high-technology and high-value investments in such sectors as aerospace, pharmaceuticals, battery technology, semiconductors and medical equipment.