Home > 2023 > Trade Update – 6th June 2023: AUSTRALIAN MINISTERS JET TO EUROPE, TAIWAN & US SIGN TRADE AGREEMENT, INDONESIA SECURES WTO DISPUTE PANEL and many more…

Trade Update – 6th June 2023: AUSTRALIAN MINISTERS JET TO EUROPE, TAIWAN & US SIGN TRADE AGREEMENT, INDONESIA SECURES WTO DISPUTE PANEL and many more…

Trade Update – 6th June 2023: AUSTRALIAN MINISTERS JET TO EUROPE, TAIWAN & US SIGN TRADE AGREEMENT, INDONESIA SECURES WTO DISPUTE PANEL 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 MINISTERS JET TO EUROPE: Trade Minister Farrell has jetted to Europe to push negotiations for an Australia-EU FTA with EU Trade Commissioner Dombrovskis and Agriculture Commissioner Wojciechowski. Assistant Trade Minister Ayres is also travelling for meetings in the UK and France.

 

TAIWAN & US SIGN TRADE AGREEMENT: Taiwan and the US signed their first agreement under the US-Taiwan 21st Century Trade Initiative during the week. The agreement will include a streamlining of border procedures, improved regulatory transparency and comprehensive anticorruption measures.

 

INDONESIA SECURES WTO DISPUTE PANEL: A WTO Dispute Panel is to be formed to review anti-dumping and subsidy duties imposed by the EU on imports of stainless-steel cold-rolled flat products from Indonesia. The EU told the WTO Dispute Settlement Body it regretted Indonesia’s pursuit of a dispute panel.

 

RCEP ENTERS INTO FORCE FOR PHILIPPINES: The RCEP FTA entered into force for the Philippines during the week. This means the agreement is now in force for all 15 members of the mega free trade agreement. Trade Secretary Pascual said RCEP would facilitate the influx of more investments in the Philippines.

 

AUSTRALIA & SINGAPORE GO GREEN: Prime Minister Albanese and Acting Prime Minister Wong met in Singapore on Friday and agreed to establish a green and digital shipping corridor by 2025. They also discussed work underway to finalize the Australia-Singapore Food Pact by 2024.

 

COMMONWEALTH TRADE MINISTERS MEET IN LONDON: Trade Ministers from the Commonwealth are meeting in London this week. It is their first meeting in four years and follows a meeting of senior officials in January.  They will seek to identify opportunities for increased intra-Commonwealth trade.

 

AUSTRALIAN BIOSECURITY OFFICIALS PROVIDE PACIFIC TRAINING: Australian officials were in Fiji during the week to provide specialist training to boost horticulture export capability. The training was funded by the Department of Foreign Affairs and Trade. It also included participation by Tuvalu, Kiribati and Vanuatu.

 

US TO CONTINUE SHRIMP ANTI-DUMPING DUTIES: The US International Trade Commission ruled during the week that anti-dumping duties on frozen warmwater shrimps imported from China, India, Thailand and Vietnam should continue. The ruling followed a five-year review of the antidumping duties.

 

NEW ZEALAND & THAILAND SIGN CUSTOMS AGREEMENT: NZ and Thailand have signed a mutual recognition arrangement. It was signed on the sidelines of a World Customs Organization meeting in Perth. It will enable accredited businesses to receive faster clearances under streamlined partnership programs.

 

INDONESIA & PERU TO PURSUE TRADE AGREEMENT: Indonesia and Peru have agreed to negotiate a trade agreement. This follows a meeting to agree on the terms of reference between Trade Ministers Juan Carlos Mathews and Zulkifli Hasan on the sidelines of the recent APEC Trade Ministers meeting in Detroit.

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