Home > 2023 > Trade Update – 25th September 2023: CHINA SUGGESTS DEAL FOR AUSTRALIA, CHINA CALLS FOR END TO AUSTRALIAN DUTIES, WTO READIES FOR LINE-BY-LINE FISH NEGOTIATIONS and many more…

Trade Update – 25th September 2023: CHINA SUGGESTS DEAL FOR AUSTRALIA, CHINA CALLS FOR END TO AUSTRALIAN DUTIES, WTO READIES FOR LINE-BY-LINE FISH NEGOTIATIONS and many more…

Trade Update – 25th September 2023: CHINA SUGGESTS DEAL FOR AUSTRALIA, CHINA CALLS FOR END TO AUSTRALIAN DUTIES, WTO READIES FOR LINE-BY-LINE FISH NEGOTIATIONS 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 SUGGESTS DEAL FOR AUSTRALIA: The Ministry of Commerce has been reported by Chinese media as pursuing a “package” approach to resolving its trade dispute with Australia. In return for China lifting duties on Australian wine Australia would lift dumping duties on goods like wind towers and rail wheels.

 

CHINA CALLS FOR END TO AUSTRALIAN DUTIES: The Ministry of Commerce has called for an immediate end to dumping duties on wind towers from China. It has told an Anti-Dumping Commission continuation inquiry the towers are not dumped and provide vital support to Australia’s wind power market.

 

WTO READIES FOR LINE-BY-LINE FISH NEGOTIATIONS: Negotiators will meet for a 6th “Fish Week” in October for “line-by-line” negotiations on a draft text for curbing subsidies that contribute to overcapacity and overfishing. The negotiations are seeking to address outstanding issues from an earlier fish agreement.

 

AUSTRALIA EXTENDS SHEEP PANEL DEADLINE: Australia has extended to October 25 the reporting deadline for an independent panel established to consult with stakeholders and advise on how best to phase out live sheep exports by sea. The panel has received more than 4100 submissions since March 2023.

 

NEW ZEALAND DAIRY GIANT REPORTS BIG PROFIT JUMP: NZ’s Fonterra has reported a $1.6 billion profit in the latest financial year. This was 170% higher than the previous year. Its Chief Executive Miles Hurrell said the results showed the world’s largest dairy exporter was focussing on the right strategic priorities.

 

THAILAND & EU COMPLETE FIRST ROUND: Trade negotiators from Thailand and the EU have completed a first round of resumed FTA negotiations. The negotiations in Brussels were the first since 2014 when a military coup in Thailand stalled negotiations. The next round is expected to be held in Bangkok in January.

 

CHINA TO APPEAL RULING BY WTO DISPUTE PANEL: China is to appeal a WTO Dispute Panel ruling that it breached global trade rules when it imposed a series of retaliatory tariffs on US goods. However the absence of a functioning WTO Appellate System means there is no body available to consider the appeal.

 

US CALLS FOR COUNTERFEIT ACTION BY BANGLADESH: US officials have used the 7th US-Bangladesh Trade and Investment Cooperation Forum Meeting in Dhaka to discuss a range of intellectual property issues including actions needed to address Bangladesh’s ranking as a top global source of counterfeit clothing.

 

MALAYSIA & SRI LANKA LOOK TOWARD FTA: President Wickremesinghe met with Prime Minister Anwar Ibrahim during the week with the leaders exploring new avenues for trade and investment. The Sri Lankan leader later said Anwar had expressed positivity toward Sri Lanka’s request for bilateral FTA negotiations.

 

JAPAN SEEKS TO BOOST CANADIAN LINKS: Economy and Trade Minister Nishimura visited Canada during the week where he signed two memorandums of cooperation to boost technology links. They focus on reliable global battery supply chains, artificial intelligence, clean technology and advanced manufacturing.

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