Home > 2023 > Trade Update – 1st August 2023: AUSTRALIAN WINE EXPORTS FALL, CHINA’S AUSTRALIAN BARLEY REVIEW INTO LAST FORTNIGHT, CANADA PURSUES URGENT US TIMBER TALKS and many more…

Trade Update – 1st August 2023: AUSTRALIAN WINE EXPORTS FALL, CHINA’S AUSTRALIAN BARLEY REVIEW INTO LAST FORTNIGHT, CANADA PURSUES URGENT US TIMBER TALKS and many more…

Trade Update – 1st August 2023: AUSTRALIAN WINE EXPORTS FALL, CHINA’S AUSTRALIAN BARLEY REVIEW INTO LAST FORTNIGHT, CANADA PURSUES URGENT US TIMBER TALKS 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.


 

AUSTRALIAN WINE EXPORTS FALL: Australian wine exports fell by 10 per cent in value to $1.87 billion in the year to June 2023. Wine Australia reported more than half the decline was in lower value wines and attributed the fall to declining wine consumption in mature markets like the US and UK.

 

CHINA’S AUSTRALIAN BARLEY REVIEW INTO LAST FORTNIGHT: China’s review of its dumping duties on Australian barley must be completed by August 11 if WTO dispute processes are not to resume. Australia and China suspended WTO action in April for three months. This was extended by a month in early July.

 

CANADA PURSUES URGENT US TIMBER TALKS: Canada has reached out to the US seeking an immediate negotiated solution to their long-running soft lumber dispute. It follows a fourth administrative review by the US which has recommended to continue anti-dumping and anti-subsidy duties on the wood.

 

TAIWAN & UK TO BOOST TRADE PARTNERSHIP: Taiwan and the UK will soon begin official-level negotiations for an Enhanced Trade Partnership between the two economies. It will focus on such topics as two-way investment and digital trade. The 26th Taiwan-UK Trade Talks are scheduled for later this year.

 

AUSTRALIA INVITES FORUM NOMINEES: The Anti-Dumping Commission is seeking expressions of interest from organisations and businesses wishing to be appointed to the advisory International Trade Remedies Forum. Its current membership of trade associations, businesses and unions expires in December.

 

HONG KONG REACHES OUT FOR ASEAN TRADE OPPORTUNITIES: Hong Kong chief executive John Lee led a high-level government and business delegation to the ASEAN economies of Singapore, Indonesia and Malaysia during the week in a bid to boost trade and investment between the respective economies.

 

AUSTRALIA TO HOST PACIFIC SYMPOSIUM: Australia is to host a business symposium for PACER Plus economies in 2024 in a bid to deepen regional economic ties. Ministers from the Pacific Islands, Australia and NZ met virtually during the week where new membership including from Nauru was discussed.

 

US LOOKS FOR INDO-PACIFIC AGREEMENT: Commerce Secretary Raimondo expects negotiations for the Indo-Pacific Economic Framework’s three pillars she leads to be completed by November. This coincides with a scheduled IBEF Ministerial meeting in San Franciso. Thailand is to host the next negotiating round.

 

VIETNAM & ISRAEL SIGN FTA: Vietnam and Israel signed a free trade agreement in Tel Aviv during the week. It was signed by Trade Ministers Nguyen and Barkat. It follows a conclusion of negotiations in April after twelve negotiating rounds over seven years and is the first FTA negotiated by Israel in South-East Asia.

 

APEC BUSINESS LEADERS MEET IN CEBU: The APEC Business Advisory Council met for the third time this year when it gathered in Cebu during the week to advance its policy priorities ahead of the APEC Summit. This followed earlier meetings in New Zealand and Brunei.  The Council will next meet in November.

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