Home > 2023 > Trade Update – 18th January 2023: AUSTRALIA PREPARES FOR 14TH ROUND, JAPAN CALLS FOR US ACTION ON CPTPP, INDIA & US TALK TRADE and many more…

Trade Update – 18th January 2023: AUSTRALIA PREPARES FOR 14TH ROUND, JAPAN CALLS FOR US ACTION ON CPTPP, INDIA & US TALK TRADE and many more…

Trade Update – 18th January 2023: AUSTRALIA PREPARES FOR 14TH ROUND, JAPAN CALLS FOR US ACTION ON CPTPP, INDIA & US TALK TRADE 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 PREPARES FOR 14TH ROUND: Trade negotiators from Australia are busy preparing for a 14th round of FTA negotiations with the European Union. The negotiations are scheduled to be held in Canberra between February 6 and 10. The last negotiating round was held in Brussels in October 2022.

 

JAPAN CALLS FOR US ACTION ON CPTPP: Prime Minister Kishida has called on the US to return to the CPTPP FTA. Speaking in the US, he said the US return to the FTA was of paramount importance. President Trump abandoned US participation in the then known TPP soon after he came to office in 2017.

 

INDIA & US TALK TRADE: Commerce Minister Goyal and USTR Tai met in Washington DC last week for the 13th US-India Trade Policy Forum. US Commerce Secretary Raimondo is to visit India in March. The US has also been talking with Bangladesh regarding its participation in the Indo-Pacific Economic Framework.

 

NEW ASEAN LEADERSHIP: ASEAN has begun 2023 with new leadership. Firstly, Indonesia has taken over the ASEAN chairmanship from Cambodia as part of the organization’s annual chair rotation. Secondly, Cambodian official Dr Kao Kim Hourn has succeeded Brunei’s Lim Jock Hoi as ASEAN Secretary-General.

 

AUSTRALIA TO CONSIDER CARBON TARIFFS: Australia will consider imposing carbon tariffs on imported goods from high-emitting economies as part of its climate change response. Speaking to the ABC during the week, Climate Change Minister Bowen said the tariffs should be looked at alongside other policy options.

 

US & TAIWAN HOLD TRADE NEGOTIATIONS: Negotiators from the US and Taiwan met in Taipei over the weekend for a second round of negotiations for the 21st century trade initiative between the two economies. The US delegation was led by the Assistant US Trade Representative Terry McCartin.

 

AUSTRALIA CALLS FOR PORT EFFICIENCY: The Productivity Commission suggests container port inefficiency costs the economy more than $600 million a year. It found workplace relations lowered productivity and a lack of competition in parts of the maritime logistics system meant consumers paid too much.

 

KOREA-SINGAPORE DIGITAL AGREEMENT BEGINS: The Korea-Singapore Digital Partnership Agreement entered into force at the weekend. The agreement was signed in November. Under the new agreement, the two economies intend to work together to create a seamless digital trading environment.

 

INDONESIA STARTS NEW YEAR WITH RCEP FTA: The Regional Comprehensive Economic Partnership entered into force for Indonesia, the largest ASEAN economy, on January 2. The FTA is now in force for 13 of the 15 signatories. The Philippines is expected to be the next economy to fully ratify the mega FTA.

 

PHILIPPINES & CHINA SIGN E-COMMERCE MOU: The Philippines and China have signed an MOU to promote e-commerce between the two economies. It was signed during a three-day state visit to China by President Marcos Jnr where the Philippines sought investment in mineral processing and electric vehicles.

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