Trade Update – 25th January 2024: AUSTRALIAN MEAT EXPORTERS CALL FOR ACTION, SINGAPORE RATIFIES UK’S CPTPP PARTICIPATION, NEW ZEALAND MINISTER IN EUROPE 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 MEAT EXPORTERS CALL FOR ACTION: The Meat Industry Council has called for government intervention if an escalating labour dispute on the Australian waterfront cannot be resolved by the parties. Chief Executive Patrick Hutchinson said the dispute was severely impacting the red meat supply chain.
SINGAPORE RATIFIES UK’S CPTPP PARTICIPATION: Singapore has become the second economy to formally ratify the United Kingdom’s participation in the CPTPP FTA. It follows Japan’s ratification in December. The UK signed up to the mega FTA in mid-2023 and is expected to be a fully active member by mid-2024.
NEW ZEALAND MINISTER IN EUROPE: Trade Minister McClay has been visiting the WTO in Geneva this week as part of his preparations to serve as a vice-chair of the WTO’s 13TH Ministerial Conference in Abu Dhabi in February. He will also visit Dubai for exploratory talks on a trade agreement with the UAE.
AUSTRALIA NAMES NEW WTO AMBASSDOR: Australia has appointed James Baxter as its next Ambassador and Permanent Representative to the WTO in Geneva. He will succeed George Mina. A senior trade official with the Ministry of Foreign Affairs & Trade, he has previously served in Geneva, Brussels and Tokyo.
THAILAND & EU MEET IN BANGKOK: Negotiators from Thailand and the EU have been holding a 2ND round of FTA negotiations in Bangkok this week. It follows a 1ST round of the resumed negotiations in Brussels in September. Meanwhile South Korea and the UK met in Seoul this week to negotiate an upgraded FTA.
AUSTRALIA APPOINTS NEW AMBASSADOR AHEAD OF SUMMIT: Foreign Minister Wong has announced the appointment of Tiffany McDonald as Australia’s next Ambassador to ASEAN. She will succeed Will Nankervis. The appointment comes just weeks before Australia hosts ASEAN leaders in Melbourne.
INDONESIA TO HOST EU TRADE TALKS: Indonesia is to host the 17th negotiating round for a free trade agreement with the European Union in late February. It follows a 16th round in Brussels in December 2023. Meanwhile the EU-ASEAN Joint Trade Working Group is scheduled to meet on 15 March.
AUSTRALIA & THAILAND SEEK TO BOOST TRADE ENGAGEMENT: Australia and Thailand held a “Enhancing Thailand-Australia Economic Engagement” roundtable in Bangkok during the week. The meeting focussed on boosting bilateral trade and investment. It was attended by government and industry representatives.
NEW ZEALAND EXPORT LEADER RESIGNS: Zespri CEO Dan Mathieson is to leave the New Zealand kiwifruit marketer to become President of the Americas for the berry company Driscoll’s. He has led the world’s largest seller of kiwifruit for 7 years during which time sales grew from $NZ2.3b to a peak of $NZ4b.
AUSTRALIA ORDERS RETURN OF EXPORT LIVESTOCK: The Department of Agriculture has ordered the immediate return to Australia of a sheep and cattle consignment on board the MV Bahijah following the livestock carrier’s diversion from the disputed Red Sea. It sailed from Fremantle for Jordan on January 5.