Trade Update – 11th April 2023: AUSTRALIAN NEGOTIATORS HEAD TO BRUSSELS, US & NZ TALK TRADE, INDIA’S WTO REPORTING CHALLENGED 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 NEGOTIATORS HEAD TO BRUSSELS: Australian negotiators will soon be heading to Brussels for a 15th negotiating round of the Australia-EU FTA. It could represent a final full negotiating round with outstanding issues left to senior negotiators and ministers ahead of an expected mid-year conclusion.
US & NZ TALK TRADE: US and NZ trade officials met in Wellington during the week under the umbrella of their bilateral Trade and Investment Framework Agreement. The agreement was signed in 1992 and is the key mechanism for trade talks between the two economies although NZ has long been pushing for an FTA.
INDIA’S WTO REPORTING CHALLENGED: A discussion paper presented at the WTO during the week and co-sponsored by Australia, Canada, Paraguay, Thailand, Ukraine and the US has suggested India is providing market support for wheat and rice vastly in excess of what has been reported to the global trade body.
AUSTRALIA & GERMANY PURSUE MINERALS STUDY: Australia and Germany are to collaborate on a critical minerals study. The two economies have signed a declaration of intent to support a joint study to help Australia develop value-added industries and to help Germany secure reliable supplies of critical minerals.
INDONESIA BEGINS NEW FTA TALKS: Indonesia and the Eurasian Economic Union began FTA negotiations in Jakarta between April 3 and 5. Meanwhile an upgraded version of the Hong Kong-Chile FTA entered into force on April 6. The upgraded elements of the FTA focus on the service sectors of the two economies.
SINGAPORE & CHINA COMPLETE FTA NEGOTIATIONS: Singapore and China have completed negotiations to upgrade their FTA. IT includes more liberal and transparent rules for investors, a telecommunications services chapter and improved market access commitments. The FTA was first signed in 2008.
PHILIPPINES LAUNCHES INQUIRY: The Philippines advised the WTO during the week it was launching a preliminary safeguard inquiry into the importation of LPG cylinders. China is the major source of imported cylinders. The inquiry follows a complaint by local industry it is suffering due to increased import volumes.
AUSTRALIAN WINE SUBMISSIONS DUE: The Department of Agriculture’s public objection process on EU wine geographical indications (GIs) seeks submissions by April 21. In addition to GI protections under an existing wine agreement, the EU wants protection for 50 new wine GIs as well as updates to existing GIs.
US CONFIRMS MAY INDO-PACIFIC ROUND: The US has confirmed that a third negotiating round for the 14-member Indo-Pacific Economic Framework will be held between May 8 and 15 in Singapore. It follows earlier negotiating rounds in Australia and Indonesia and a special round in India.
CANADA NEARS DAIRY DISPUTE DEADLINE: Canada is due to file its first submission by April 21 in response to New Zealand’s complaint that the North American economy’s administration of its dairy rate quotas breach the CPTPP FTA. NZ filed its first submission in March. The complaint is the first under the CPTPP FTA.
