Trade Update – 24th April 2023: INDIA LOSES WTO DISPUTE CASES, AUSTRALIAN & INDIAN NEGOTIATORS MEET, NEW ZEALAND HOSTS MAJOR FTA MEETING 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.
INDIA LOSES WTO DISPUTE CASES: India lost three similar WTO Dispute Panel cases during the week related to complaints by the EU, Japan and Taiwan. The disputes followed increases in Indian import duties for ICT products such as mobile phones. India is expected to pause further action by appealing the rulings.
AUSTRALIAN & INDIAN NEGOTIATORS MEET: Trade negotiators from Australia and India met in Sydney during the week to advance negotiations for a comprehensive trade agreement between the two economies. The negotiations follow the earlier conclusion and enactment of an “early harvest” agreement.
NEW ZEALAND HOSTS MAJOR FTA MEETING: New Zealand hosted a major meeting of senior trade officials from the CPTPP FTA economies during the week. Trade Ministers will gather as the CPTPP Commission in July. A key issue ahead will be the complexity of dealing membership applications from China and Taiwan.
CANADA SHARPENS ASIA PACIFIC FOCUS: Canada has sought to boost its trade and security focus in the Asia-Pacific region by appointing one of its top diplomats as Special Envoy for the Indo-Pacific. Ian McKay will be responsible for advancing Canada’s Indo-Pacific strategy. He will continue as Ambassador to Japan.
EU EXTENDS DUMPING DUTIES: The EU has extended dumping duties on stainless steel hot-rolled coils from Indonesia to include imports from Turkiye. It has also extended dumping duties on stainless steel fittings from China and Taiwan to include Malaysia. In both cases, it is seeking to avoid circumvention.
NEW ZEALAND OPPOSITION CALLS FOR INDIAN FTA: The National Party says delivering an FTA with India will be a major strategic priority if it forms government following an election in October. Its leader Christopher Luxon said India represented a massive economic opportunity for New Zealand.
AUSTRALIA DROPS COPY PAPER DUTIES: Australia has dropped anti-dumping duties on A4 copy paper from a range of economies including China, Indonesia, South Korea and Thailand. It follows an exemption inquiry by the Anti-Dumping Commission which found locally made paper was no longer readily available.
INDIA & THAILAND HOST JOINT TRADE MEETING: The India-Thailand Joint Trade Committee met in New Delhi during the week. It was the first in-person meeting since the JTC was revived in 2020. The committee included discussion on a range of market access and technical barriers faced by their respective exports.
US TRADE OFFICIAL VISITS AUSTRALIA: US Chief Agricultural Trade Negotiator Doug McKalip was in Australia during the week. Agriculture Minister Watt met with him in Canberra and raised key trade issues including the streamlining of red meat export processes and market access for horticultural commodities.
PHILIPPINES PURSUES COCONUT EXPORT BOOST: The Philippines has sought to boost the export potential of smaller coconut oil and flour producers by introducing a comprehensive series of training programs. The producers will also benefit from support to facilitate their participation in selected global trade fairs.