Trade Update – 17th March 2022: SINGAPORE & FRANCE SIGN NEW AGREEMENT, TOP US TRADE OFFICIAL VISITS AUSTRALIA, NEW ZEALAND & EU CONTINUE FTA TALKS and many more…
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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.
SINGAPORE & FRANCE SIGN NEW AGREEMENT: Trade Ministers S Iswaran and Riester met virtually earlier this week to sign a partnership agreement on digital and green economy cooperation. The agreement aims to provide a platform for the two economies to cooperate on a wide range of digital and green issues.
TOP US TRADE OFFICIAL VISITS AUSTRALIA: Deputy USTR Sarah Bianchi is visiting Australia this week for a series of government and business meetings. She is to co-chair a meeting of the US-Australia FTA Joint Committee and to brief officials on President Biden’s proposed Indo-Pacific Economic Framework initiative.
NEW ZEALAND & EU CONTINUE FTA TALKS: Negotiators from New Zealand and the European Union have this week begun a 12th round of negotiations for a free trade agreement. It is the first round since June 2021 and is scheduled to last until March 25. New Zealand is hopeful it can conclude an FTA by year-end.
AUSTRALIA-CHINA WTO WINE PANEL NAMED: A WTO Dispute Panel has been appointed to consider Australia’s complaint against wine dumping duties imposed by China. It will be chaired by Faizullah Khilji (Pakistan). He will be supported by Elaine Feldman (Canada) and Marco Tulio Molina Tejeda (Guatemala).
INDIA-CANADA TO RESUME TRADE NEGOTIATIONS: India and Canada have agreed to resume negotiations for a trade partnership agreement. They also intend to consider an interim “early progress” agreement. This follows a 5th Ministerial Trade Dialogue during the week between Ministers Goyal and Ng in Delhi.
NEW ZEALAND EXTENDS AVIATION PROGRAM: New Zealand has extended its COVID-related aviation support program until March 2023. Since May 2020, the international air connectivity scheme has enabled more than 12,300 flights carrying more than 235,000 tonnes of freight with a trade value of $18.8billion.
INDIA PURSUES ASEAN SUBSIDY INQUIRY: India is pursuing a countervailing duty inquiry into imports of saturated fatty alcohols from Indonesia, Malaysia and Thailand. This follows a complaint by an Indian producer which claims exporters from the three ASEAN economies benefit from a wide range of subsidies.
AUSTRALIAN WINE PRODUCERS WELCOME NEW FTA: Australian wine producers have called for the early ratification of the Australia-UK FTA. In a submission to Parliament’s Treaties Committee, Australian Grape and Wine says it is highly supportive of the FTA and encourages its swift and bipartisan ratification.
MALAYSIA GETS CLOSER TO CPTPP RATIFICATION: Trade Minister Azmin Ali has told the former Prime Minister of Japan Shiro Abe during a courtesy visit he hopes Malaysia will soon ratify the major CPTPP FTA. Malaysia had completed a cost-benefit analysis and was now undertaking its domestic processes.
WTO SUGGESTS YEAR-END FOR AUSTRALIA-CHINA BARLEY REPORT: A WTO Dispute Panel reviewing anti-dumping duties imposed by China on Australian barley is not expected to issue a final report until year-end. The Panel blames the complexity of the dispute and large number of claims involved for the timing.