Trade Update – 23rd May 2023: AUSTRALIAN PRIME MINISTER RECEIVES CHINA INVITE, AUSTRALIA LOOKS TO IMMINENT BARLEY DECISION, APEC AUTO INDUSTRY HEADS FOR DETROIT 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 PRIME MINISTER RECEIVES CHINA INVITE: Prime Minister Albanese has received an invitation to visit China. Speaking to journalists in Hiroshima, he said it was important trade impediments between the two economies be lifted and China showed it believed in trading according to international norms.
AUSTRALIA LOOKS TO IMMINENT BARLEY DECISION: Trade Minister Farrell believes Australia is on the cusp of a favourable decision from China’s review of its anti-dumping tariffs on Australian barley. He told The Guardian Podcast indications were Australia should get the result it wanted in a short space of time.
APEC AUTO INDUSTRY HEADS FOR DETROIT: Auto industry executives and government officials from the APEC economies were in Detroit during the week for 37th APEC Automotive Dialogue. Meanwhile trade ministers from the APEC economies will gather in Detroit later this week for a two-day meeting.
TRADE OFFICIALS DESCEND ON INDIA: Trade officials from the G20 economies will be in Bengaluru this week for a second Trade & Investment Working Group meeting. The three-day meeting will be attended by more than 100 delegates. This meeting follows the group’s first meeting in Mumbai in March.
NEW ZEALAND SLAMS CANADIAN DAIRY DEFENCE: New Zealand has described a trade defence by Canada as a nonsense and economic reports it provided as irrelevant. The claims were made in NZ’s Rebuttal Submission filed under the CPTPP FTA as part of a dairy quota dispute hearing between the two economies.
US & TAIWAN CONCLUDE TRADE TALKS: The US and Taiwan have concluded negotiations for their 21st Century Trade Initiative. The agreement includes a range of customs, regulatory, anti-corruption and SME initiatives. The US and Taiwan intend to engage in further trade talks once the initial agreement is signed.
SINGAPORE PURSUES AFRICAN TRADE GROWTH: Prime Minister Lee Hsien Loong visited South Africa and Kenya during the week. Trade growth between the economies was a key element of the Prime Minister’s first official visit to South Africa and Kenya. He was accompanied by a business delegation.
AUSTRALIAN MINISTER VISITS PAPUA NEW GUINEA: Assistant Trade Minister Ayres was in Papua New Guinea during the week for the 38th Papua New Guinea Business Forum and Trade Expo. He was joined by a delegation of business leaders. Trade between the two economies is worth $5 billion annually.
EUROPE TARGETS PIRACY IN ASIA: The European Commission has published its latest IP report on IP rights in third countries. China, India, Indonesia, Malaysia and Thailand are among the priority economies where the commission seeks to address the counterfeiting, piracy and forced technology transfer of its products.
NEW ZEALAND BANS IMPORTS OF ILLEGAL TIMBER: NZ has implemented new legislation to ban the import of illegally harvested timber. It will also provide an umbrella for a regulated harvest assurance program. Forestry Minister Henare said NZ’s timber exports could be at risk in the absence of such a program.