Weekly trade review provided by Chatto Creek Advisory Pty.
Chatto Creek Advisory Pty Ltd is a Melbourne-based strategic consultancy specializing 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 Asia Pacific.
NEW ZEALAND GOES DIGITAL FOR APEC
NZ will host a virtual 2021 APEC Summit. The Government said this week COVID-19 and border restrictions had been the major factor in its decision. Trade Minister Parker said the early call gave certainty and allowed NZ to focus on achieving meaningful trade outcomes.
US SUSPENDS HONG KONG TRADE EXEMPTIONS
US Commerce Secretary Ross this week suspended regulations affording Hong Kong preferential treatment over China including export license exemptions for key goods and technologies. This followed China’s imposition of new security laws for Hong Kong.
WTO NOMINATIONS CLOSE IN A WEEK
Nominations for the world’s top trade job close on Wednesday. South Korean Trade Minister Yoo has confirmed she will be a candidate for the WTO director-general position. However, EU Trade Commissioner Hogan said this week he had decided not to be a candidate.
CHINA DEMAND UNDER FIRE
China’s demand that produce exporters sign letters certifying goods are free of COVID-19 has been criticised by Hong Kong-based Hinrich Foundation Fellow Stephen Olson. He writes the demand is scientifically unjustified, highly trade restrictive and deeply damaging to exporters.
AUSTRALIA TIGHTENS RULES FOR MALAYSIAN FLOWERS
Australia has tightened its biosecurity rules for chrysanthemum cut flowers imported from Malaysia due to detections of serpentine leaf miner, one of Australia’s most unwanted plant pests. Flower shipments will now require methyl bromide fumigation.
ASEAN WELCOMES RCEP PROGRESS
Leaders of ASEAN, meeting by video for a 36th ASEAN Summit, have welcomed progress toward the conclusion of the mega RCEP (ASEAN + Australia, China, Japan, Korea and NZ ) FTA and again flagged an expected signing of the trade agreement by the end of the year.
ANZAC FARMERS EYE UK COMMISSION
Australian and NZ farmers will be closely watching the new UK Trade and Agriculture Commission as produce access shapes to be a key issue in bilateral FTA negotiations. The Commission, announced this week, is expected to play a key role in determining UK policy positions.
JAPAN LAUNCHES NOODLE INGREDIENT DUMPING ACTION
Japan has launched an anti- dumping inquiry into imports of dipotassium carbonate from South Korea. It follows a complaint by local manufacturers. Dipotassium carbonate uses include being a material for glass and a food additive for Chinese noodles.
WTO ESTABLISHES DISPUTE PANELS FOR ELECTRONICS AND FRIES
The WTO has established dispute panels to consider European Union complaints against India and Colombia. The Indian complaint relates to duties on technology products and the Colombian complaint to anti-dumping duties on frozen fries.
US LAUNCHES TYRE INQUIRY
The US Commerce Department has launched anti-dumping inquiries into tyres from South Korea, Taiwan, Thailand and Vietnam. An anti-subsidy inquiry will also be held on tyres from Vietnam. Tyre imports from the Asian economies were worth nearly $US4 billion in 2019.