Home > Featured > Trade Update – 23rd September 2021: China’s FTA Bid Will Be Complex, India Critical Of WTO Agreement, French Fury Puts Focus On Australian FTA and many more…

Trade Update – 23rd September 2021: China’s FTA Bid Will Be Complex, India Critical Of WTO Agreement, French Fury Puts Focus On Australian FTA and many more…

Trade Update – 23rd September 2021: China’s FTA Bid Will Be Complex, India Critical Of WTO Agreement, French Fury Puts Focus On Australian FTA 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.


CHINA’S FTA BID WILL BE COMPLEX: Australia and Canada will likely expect China to settle existing trade rows to successfully join the CPTPP. Japan is also likely to have concerns whether China can meet the necessary FTA thresholds. The consensus rules of CPTPP means China will need to work with each member.

INDIA CRITICAL OF WTO AGREEMENT: Commerce Minister Goyal has criticised the WTO Agreement on Agriculture saying it was riddled with deep imbalances favouring developed economies. He was speaking at an Indonesian-hosted meeting of 21 economies preparing for a WTO Ministerial Conference in November.

FRENCH FURY PUTS FOCUS ON AUSTRALIAN FTA: Trade Minister Tehan expects a 12th round of FTA talks between Australia and the EU to begin as scheduled on October 12 despite French anger at the ending of a submarine contract. Tehan, who will be in Europe at this time, expects an FTA within 12 to 18 months.

CHINA BANS TAIWANESE APPLES: Taiwan has threatened to challenge China at the WTO following Beijing’s sudden biosecurity ban on  wax and sugar apples from the island economy. The Taipei Times quoted Agriculture Minister Chen as saying China had acted unilaterally without providing scientific evidence.

ANZACS SEEK TO CUT SUBSIDIES: Trade Ministers Tehan and O’Connor met this week and agreed Australia and NZ would work together, and with the Cairns Group, in the lead up to the WTO Ministerial Conference in November in a bid to secure a global agreement to cut global farm subsidies by at least half by 2030.

CHINA DUTY AVOIDANCE UNDER FIRE: The EU has moved to block the circumvention of anti-dumping duties of up to 35% on household aluminium foil from China. The foil was being shipped via Thailand where it was subject to minor alteration. Aluminium foil from Thailand will now also incur the anti-dumping duty.

AUSTRALIA PURSUES WTO DISPUTE PANEL OVER WINE: Australia will ask the WTO Dispute Settlement Body on September 27 to establish a WTO Dispute Panel to rule on anti-dumping duties on its wine exports to China. China is expected to seek to block an initial request but to accept it at a subsequent meeting.

UK TRADE SECRETARY PROMOTED: UK Trade Secretary Liz Truss has been promoted to be Foreign Secretary. The change comes as Truss was working to finalize FTAs with Australia and NZ and begin negotiations with India. The UK’s new Trade Secretary is Anne-Marie Trevelyan, formerly Energy Minister.

AUSTRALIA LAUNCHES ALUMINIUM INQUIRY: Australia has begun an inquiry on whether to continue anti-dumping duties on aluminium extrusions from Malaysia and Vietnam. The inquiry will also include subsidy duties for Malaysia. The duties were introduced in 2017 and are due to expire in June 2022 unless renewed.

CHILE REACHES OUT TO FTA: Chile is continuing its bid to join the ASEAN-Australia-NZ FTA. Ministers from the FTA economies this week welcomed Chile’s interest to join the AANZFTA and its commitment to implement the necessary obligations and comply with the outcomes of current upgrade negotiations.

 

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