Home > Featured > Trade Update – 13th July 2021: New Zealand to host APEC Leaders, Australian Minister to meet USTR, India calls for doubling of textile exports and many more…

Trade Update – 13th July 2021: New Zealand to host APEC Leaders, Australian Minister to meet USTR, India calls for doubling of textile exports and many more…

Trade Update – 13th July 2021: New Zealand to host APEC Leaders, Australian Minister to meet USTR, India calls for doubling of textile exports 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.


NEW ZEALAND TO HOST APEC LEADERS:
Prime Minister Ardern is to chair a virtual APEC Leaders’ Retreat tomorrow. The meeting will be the first leaders have held outside of their annual APEC Leaders’ Summit. It will be focussed on delivering co-ordinated regional action to assist recovery from COVID-19.

AUSTRALIAN MINISTER TO MEET USTR:
Trade Minister Tehan will meet US Trade Representative Tai for the first time in person during a comprehensive fortnight of trade meetings in Singapore, Vietnam, Korea, Japan and the US. It follows a European Union and United Kingdom trip by Minister Tehan in April.

MINISTERIAL FISHING TALKS TODAY:
A virtual Ministerial Conference will begin at the WTO tonight in a bid to advance an agreement on cutting harmful fisheries subsidies. It is expected the conference will provide guidance to negotiators to finalize an deal before a 12th Ministerial Conference in November.

AUSTRALIA GETS A SUGAR BOOST:
Australia will be able to export an extra 7,648 metric tons of raw cane sugar to the US. This follows the US reallocating 76,571 tons from unused earlier allocations.  In addition to Australia getting the 3rd-highest allocation, Thailand, India and Fiji will also be able to send extra sugar.

INDIA CALLS FOR DOUBLING OF TEXTILE EXPORTS:
Commerce Minister Goyal has called on Indian textile producers to double their exports. Goyal’s portfolio was last week extended to include the textile industry in a bid by the government to stall a deterioration in the industry’s export competitiveness.

AUSTRALIA APPOINTS NEW TRADE BOSS:
Prime Minister Morrison has appointed Kathryn Campbell as Secretary of the Department of Foreign Affairs and Trade. She succeeds Frances Adamson as the top bureaucrat for foreign and trade policies. Ms Campbell currently leads the Department of Social Services.

US PUBLISHES SECRET AUTO REPORT:
A US Commerce Department trade inquiry has found that auto imports are impairing US auto industry’s ability to meet national defence requirements. The inquiry was held under the Trump Administration, but its findings were never published until this week.

AUSTRALIA TO HOLD RCEP HEARINGS:
Parliament’s Joint Treaties Committee has scheduled three RCEP public hearings in Sydney, Melbourne and Perth on July 27, 28 and 30. The Sydney. The public hearings are part of Australia’s ratification of the mega ASEAN + 5 (Australia, China, Japan, Korea and NZ) FTA.

MALAYSIAN MINISTER CHASES ELECTRIC CARS:
Trade Minister Azmin Ali last week sought to nudge the country’s automotive industry toward the local manufacture of electric vehicles when he met with Stellantis NV executives in Europe and outlined a range of potentially customised government incentives.

AUSTRALIA OPENS NEW DUTCH TRADE OFFICE:
Austrade – Australia’s government trade promotion agency – has announced the opening of a new trade office in the Netherlands. Trade Minister Tehan said the new trade office would strengthen Australia’s trading relationship with its second largest EU market.

 

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