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.
AUSTRALIAN WINE WIN
Australia and Canada have agreed to end wine sale restrictions relating to federal as well as state laws in Ontario and Nova Scotia. It follows dispute action at the WTO. An agreement to end restrictions in British Columbia was reached in 2019. Negotiations for Quebec continue.
NEW ZEALAND’S WARNING TO EU
Trade Minister Parker has warned the EU to improve its “poor quality and protectionist” FTA offer saying there were other countries where NZ could buy manufactured goods. He said NZ has rights to pursue other solutions if it could not achieve acceptable reciprocity from the EU.
TRADE COMMISSION TO MEET BY VIDEO
The Comprehensive & Progressive TPP (CPTPP) is scheduled to hold a meeting of its ruling body on August 5. The 3rd meeting of the mega FTA’s CPTPP Commission will be hosted by Mexico via video and follows earlier meetings hosted by Japan and New Zealand.
APEC MINISTERS ENDORSE DECLARATION
APEC Trade Ministers met by video during the week and backed a COVID-19 declaration calling for facilitating the flow of essential goods and services, enhanced connectivity and the minimising of disruptions to trade in medical goods, food and agriculture.
EU & CHINA TALK TRADE
The EU and China held their 8 th High-Level Trade and Economic Dialogue this week. A key discussion issue was access to China for European farm produce. The EU spoke of its concerns regarding the use of COVID-19 as a cover for unjustified inspections, controls and certificate requests.
ANZAC MINISTERS SEEK WTO REFORM
Trade Ministers Birmingham and Parker have met by video for annual trade talks between Australia and New Zealand and agreed to continue the pursuit of WTO reform. They also emphasised the need to find a timely path through the current WTO Appellate Body impasse.
INDIA & UK TO PURSUE POTENTIAL FTA
India and the United Kingdom have agreed to pursue a deeper trading relationship. This will initially focus on an Enhanced Trade Partnership and could lead to a future FTA. This followed a 14 th Joint Economic & Trade Committee meeting between the two economies.
AUSTRALIA’S 2020 US SUGAR ALLOCATION
Australia has received the 4 th -largest tariff rate quota for raw cane sugar in 2021. Its allocation of 87,402 metric tons is the same as that given by the US for 2019 and 2020. The Dominican Republic, Brazil and the Philippines are the only economies with bigger allocations.
INDONESIA & UK HOLD SECOND ROUND
Indonesia and the United Kingdom have in the past week held a second round of talks by video as part of a joint trade review between the two economies. The talks followed an initial round in December 2019 and are aimed at boosting trade and investment.
AUSTRALIAN POTATOES GET A THAI BOOST
Fifteen years after an FTA took effect between Australia and Thailand, Australian potato farmers have secured tariff and quota free access for seed and processing potatoes. Agriculture Minister Littleproud said it was a fantastic outcome for producers.