Home > 2023 > Trade Update – 15th March 2023: AUSTRALIA & INDIA AIM FOR YEAR-END AGREEMENT, US MISSION TARGETS ASEAN MARKETS, JAPAN JOINS TRADE DISPUTE SETTLEMENT ARRANGEMENT and many more…

Trade Update – 15th March 2023: AUSTRALIA & INDIA AIM FOR YEAR-END AGREEMENT, US MISSION TARGETS ASEAN MARKETS, JAPAN JOINS TRADE DISPUTE SETTLEMENT ARRANGEMENT and many more…

Trade Update – 15th March 2023: AUSTRALIA & INDIA AIM FOR YEAR-END AGREEMENT, US MISSION TARGETS ASEAN MARKETS, JAPAN JOINS TRADE DISPUTE SETTLEMENT ARRANGEMENT 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.


 

AUSTRALIA & INDIA AIM FOR YEAR-END AGREEMENT: Australia and India will seek to promptly conclude an expanded trade agreement following talks between Prime Ministers Albanese and Modi. Prime Minister Albanese said he was hopeful an ambitious and transformational agreement could be finalised this year.

 

US MISSION TARGETS ASEAN MARKETS: The US Commerce Department is this week leading a trade mission of 100 businesses across 20 industry sectors to ASEAN. The mission centres on a three-day business forum in Bangkok and will include side visits to Vietnam, Philippines, Singapore, Malaysia and

 

 

JAPAN JOINS TRADE DISPUTE SETTLEMENT ARRANGEMENT: Japan has agreed to join the Multi-Appeal Interim Arbitration Arrangement. This is the appeal mechanism 53 economies have now agreed to use to resolve trade disputes since the World Trade Organization’s Appellate Body ceased functioning in 2019.

 

INDIA & US SIGN SEMICONDUCTOR MOU: India and the US have signed an MOU to establish a semiconductor supply chain partnership. It was signed by Commerce Secretary Raimondo and Commerce Minister Goyal during the former’s visit to New Delhi to relaunch an India-US Commercial Dialogue.

 

AUSTRALIAN MINISTER PREPARES FOR CHINA TRIP: Trade Minister Farrell is on the cusp of visiting China to meet Commerce Minister Wang in a bid to resolve long-running trade disputes.  He told the ABC during the week that officials’ talks were going well and he expected to be visiting China in “the near, near future.”

 

US & EU TO PURSUE MINERALS AGREEMENT: The US and EU are to negotiate a targeted critical minerals agreement. It follows talks between US President Biden and EU President von der Leyen. An agreement would allow minerals mined or processed in the EU to count toward clean vehicle subsidies in the US.

 

NZ & THAI DIPLOMATS TO HEAD WTO COMMITTEES: New Zealand’s permanent representative to the WTO Claire Kelly has been appointed chairperson of the Geneva-based organization’s regional trade agreements committee. Thailand’s WTO representative Pimchanok Pitfield will chair the Council for TRIPS.

 

AUSTRALIA LINKS UP WITH BOLLYWOOD: Australia and India have signed an Audio-Visual Co-Production Agreement. It was signed during the week by Trade Minister Farrell and Broadcasting Minister Thakur and is expected to lead to more co-productions with projects being able to access government funding.

 

US APPOINTS TRADE ADVISORY COMMITTEE: The White House named a 14-member Advisory Committee for Trade Policy and Negotiations during the week. The Committee will provide specialised advice on trade policy to US Trade Representative Tai. Its membership is drawn from industry, academia and trade unions.

 

AUSTRALIA SEEKS TO HEAD-OFF MALAYSIAN DUTY DODGE: Australia has broadened the size of concrete underlay film covered by an anti-dumping notice. It follows an anti-circumvention inquiry which found anti-dumping duties had been avoided by small changes to the size of the film imported from Malaysia.

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